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Economics problems -Quantitative Analysis Assignment




Question;Problem;1-14;Gina Fox has started her own company, Foxy Shirts;which manufactures imprinted shirts for special occasions. Since she has just;begun this operation, she rents the equipment from a local printing shop when;necessary. The cost of using the equipment is $350. The materials used in one;shirt cost $8, and Gina can sell these for $15 each.;(a) If Gina sells 20 shirts, what will her total;revenue be? What will her total variable cost be;Problem 1-17;Katherine;D? Ann is planning to finance her college education by selling programs at the;football games for State University. There is a fixed cost of $400 for printing;these programs, and the variable cost is $3. There is also a $1,000 fee that is;paid to the university for the right to sell these programs. If Katherine was;able to sell programs for $5 each, how many would she have to sell in order to;break even?;F;Problem 1-20;Mysti Farris;(see Problem 1-19) is considering raising the selling price of each cue;to $50 instead of $40. If this is;done while the costs remain the same, what would the new break-even point be?;What would the total revenue be at this break-even point?;Problem;1-22;Golden Age Retirement Planners specializes in pro-;viding financial advice for people planning for a comfortable retirement. The;company offers seminars on the important topic of retirement planning. For a;typical seminar, the room rental at a hotel is $1,000, and the cost of;advertising and other incidentals is about $10,000 per seminar. The cost of the;materials and special gifts for each attendee is $60 per person attending the;seminar. The company charges $250 per person to attend the seminar as this;seems to be competitive with other companies in the same business. How many;people must attend each seminar for Golden Age to break even?;Problem 1-23;A;couple of entrepreneurial business students at State University decided to put;their education into practice by developing a tutoring company for business;students. While private tutoring was offered, it was determined that group;tutoring before tests in the large statistics classes would be most beneficial.;The students rented a room close to campus for $300 for 3 hours. They developed;handouts based on past tests, and these handouts (including color graphs) cost;$5 each. The tutor was paid $25 per hour, for a total of $75 for each tutoring;session.;(a)If students are;charged $20 to attend the session, how many students must;enroll for the company to;break even?;If;students are charged $20 for attending the session, 25 students must enroll for;the company to break-even.;(b)A somewhat;smaller room is available for $200 for 3 hours. The company;is;considering this possibility. How would this affect the break-even point?;(F) Fixed Cost=;$275.00;(V) Variable Cost=;$5.00;(S) Selling Price=;$20.00;(X) Number of Units;Sold=?


Paper#55741 | Written in 18-Jul-2015

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