90.2K

Verified Solution

Link Copied!

What is your average weekly revenue over the six weeks the students gathered their data? Insert the answer and the cell for answer here

1. . We will look for it in your spreadsheet. We need the cell so that we dont have to navigate your spreadsheet to find your calculations.
   1. Hint: You need to average sales for each cup size separately before determining your revenue.

Coffee Sales by Cup for Six Weeks

Week 1	Small Coffee	2045
	Medium Coffee	1689
	Large Coffee	922
Week 2	Small Coffee	2065
	Medium Coffee	1751
	Large Coffee	901
Week 3	Small Coffee	2057
	Medium Coffee	1008
	Large Coffee	868
Week 4	Small Coffee	2032
	Medium Coffee	1698
	Large Coffee	901
Week 5	Small Coffee	2035
	Medium Coffee	1723
	Large Coffee	865
Week 6	Small Coffee	2076
	Medium Coffee	1802
	Large Coffee	903

Price by Cup Size

Small - $2.50

Medium - $3.50

Large - $4.50

2. What is the Cost of Goods Sold for a large cup of coffee? Insert the answer and the cell with the answer here ............... We will check the cell in your spread sheet.
   1. Hint: We are looking for the Cost of Goods Sold for a single large cup of coffee not the total of all large cups sold.

Cost of Goods Sold (GOGS)

Cost of each Cup

Small Cup - $ .08

Medium Cup- $ .09

Large Cup - $.11

Coffee cost for each Cup Size

1/64 lb. of Coffee (Small) - $.11

2/64 lb. of Coffee (Medium) - $.22

3/64 lb. of Coffee (Large) - $.33

3. What is your weekly gross profit based on your average weekly cup sales? Insert the answer and the cell with the answer here ___.............______. We will check the cell in your spread sheet.
   1. Hint: This is where you have to use your average cup sales to determine your average cost of goods sold.

No new data required.

4. What is your weekly gross profit after raising the price of each cup size by 25 cents? Insert the answer and the cell with the answer here. We will check the cell in your spread sheet.
   1. Hint: You have to determine the forecasted change in average weekly sales based on each cup size.

New Cup Prices by Size

Small - $2.75

Medium - $3.75

Large - $4.75

Customer Response to Coffee Price Change of +25 cents. (How the customer reacts to the price increase)

Small- +4% (increase in demand)

Medium - -10% (decrease in demand)

Large- +6% (increase in demand)

5. Your coffee supplier has increased their coffee price to $7.68 per pound. What is your new weekly gross profit? Insert the answer and the cell with the answer here _______________. We will check the cell in your spread sheet.
   1. Hint: You have to determine your new coffee cost for each cup size.

Answer & Explanation Solved by verified expert

See Answer