You and Sally agree to research the costs/profit ratio to determine whether to buy or...
70.2K
Verified Solution
Link Copied!
Question
Accounting
You and Sally agree to research the costs/profit ratio to determine whether to buy or lease the Boca Raton property.
The first step requires you to calculate the potential overall profit (Here is the information you will need)
- Profit = number of seats (259 seats with 90% occupied on average) x the number of meal seatings (3 per night; 6:00, 7:30, and 9:00 pm) x average meal price of $250 x 365 days of operation.
- Food and service expenses are 68% of your revenueadditional costs, including insurance, professional fees, etc., equal 9.9 million per year.
- Rent would cost $100 per seat per day. The cost of the mortgage is $125 per seat.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.