Methods of Analysis for Business Operations

Adobe Captivate Wednesday, November 18, 2020 Page 1 of 12 Slide 1 – Title Slide Slide notes Text Captions Unit I Practice Problems Adobe Captivate Wednesday, November 18, 2020 Page 2 of 12 Slide 2 – Instructions Slide notes Text Captions The following slides contain practice problems from page 18 in the textbook. Try to solve the problems, then watch the vid eo solution to check your work. To play the video, simply click on the video and it will open in a new tab. Instructions Adobe Captivate Wednesday, November 18, 2020 Page 3 of 12 Slide 3 – Question 1 -16 Slide notes Text Captions Problem: Ray Bond sells handcrafted yard decorations at county fairs. The variable cost to make these is $20 each, and he sells them for $50. The cost to rent a booth at the fair is $150. How many of these must Ray sell to break even? Question 1 -16 Solut ion: Adobe Captivate Wednesday, November 18, 2020 Page 4 of 12 Slide 4 – Question 1 -17 Slide notes Text Captions Prob lem: Ray Bond, from Problem 1 -16, is trying to find a new supplier that will reduce his variable cost of production to $15 per unit. If he was successful in reducing this cost, what would the break -even point be? Question 1 -17 Solution: Adobe Captivate Wednesday, November 18, 2020 Page 5 of 12 Slide 5 – Question 1 -18 Slide notes Text Captions Problem: 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 variab le 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? Question 1 -18 Solution: Adobe Captivate Wednesday, November 18, 2020 Page 6 of 12 Adobe Captivate Wednesday, November 18, 2020 Page 7 of 12 Slide 6 – Question 1 -19 Slide notes Text Captions Problem: Katherine D’Ann, from Problem 1 -18, has become concerned that sales may fall, as the team is on a terrible losing streak and attendance has fallen off. In fact, Katherine believes that she wil l sell only 500 programs for the next game. If it was possible t o raise the selling price of the program and still sell 500, what would the price have to be for Katherine to break even by selling 500? Question 1 -19 Solution: Adobe Captivate Wednesday, November 18, 2020 Page 8 of 12 Adobe Captivate Wednesday, November 18, 2020 Page 9 of 12 Slide 7 – Question 1-20 Slide notes Text Captions Problem: Farris Billiard Supply sells all types of billia rd equipment and is considering manufacturing its own brand of pool cues. Mysti Farris, the production manager, is currenlty investigating the production of a sta ndard house pool cue that should be very popular. Upon analyzing the costs, Mysti determines that the materials and labor cost for each cue is $24, and the fixed cost that must be covered is $2,400 per week. With a selling price of $40 each, how many pool cues must be sold to break even? What would the total revenue be at this break -even point? Q uestion 1 -20 Adobe Captivate Wednesday, November 18, 2020 Page 10 of 12 Solution: Adobe Captivate Wednesday, November 18, 2020 Page 11 of 12 Slide 8 – End Slide Slide notes Text Captions Unit I Practice Problems You have reached the end of the Unit I practice pro blems. Click the Restart button to return to the beginning if you need further review. Otherwise, you may close your browser window to exit. Title slide image reference: Adobe Captivate Wednesday, November 18, 2020 Page 12 of 12 Baranau, D. (n.d.). ID 16218950 2. Dreamstime. https://www.dreamstime.com/budget -data -people -vector -business -analysis -person -concept – illustration -financial -ac count -statistic -graph -management -chart -report -image162189502

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