Answer To: https://elearning.uh.edu/bbcswebdav/pid...
Mohammad Wasif answered on Jan 30 2021
Q 1
Chapter 2, Question 1
Vanessa is the snack bar manager at the Silver Glen Country Club. Each day, Vanessa records the revenue generated and the number of guests served in the snack bar. Using the information below, calculate her total revenue, the total number of guests served, her average revenue per day, and the average number of guests served per day.
Revenue Guests Served
Monday $480.00 45
Tuesday 535.00 50
Wednesday 595.00 60
Thursday 395.00 40
Friday 940.00 85
Saturday 1,450.00 120
Sunday 1,120.00 90
Week's Total $5,515.00 $490.00
Daily Average $787.86 $70.00
&12Chapter 2
Q 1
Q 2
Chapter 2, Question 2
Laurie Fitsin owns a small sandwich shop called Laurie’s Lunch Box. She has developed a sales history for the first week of March using total sales and guests served. Help Laurie calculate her average sales per guest for each day of the week and calculate her totals.
Sales Period Date Sales Guests Served Average Sales Per Guest
Monday 3/1 $1,248.44 200 $6.24
Tuesday 3/2 1,686.25 360 $4.68
Wednesday 3/3 1,700.00 350 $4.86
Thursday 3/4 1,555.65 300 $5.19
Friday 3/5 1,966.31 380 $5.17
Saturday 3/6 2,134.65 400 $5.34
Sunday 3/7 2,215.77 420 $5.28
Total $12,507.07 $2,410.00 $36.76
Average Sales Per Guest (sum divided by 7): $5.25
&12Chapter 2
Q 2
Laurie has decided that she could take a shortcut and calculate the average sales per guest for the week by adding Monday through Sunday’s average sales per guest and dividing by seven. Would this shortcut make a difference in her total average sales per guest for the week? If so, how much of a difference? Should she take this shortcut? Why or why not?
Answer: Using this shortcut will make a difference in total sales per guest for the week. The difference is only $ 0.06. However, he probably shouldn't take the shortcut to find average sales per guest, because I think it would be safer to underestimate average sales rather than overestimate.
Q 3
Chapter 2, Question 3
Peggy Richey operates Peggy’s Pizza Place in southern California. She has maintained a sales history from January through June, and wants to compare this year’s sales with last year’s sales. Calculate her sales variances and percentage variances for the first six months of the year.
Month Sales This Year Sales Last Year Variance Percentage Variance
January $37,702.73 $ 34,861.51 $2,841.22 8.15%
February 33,472.03 31,485.60 $1,986.43 6.31%
March 36,492.98 33,707.79 $2,785.19 8.26%
April 35,550.12 32,557.85 $2,992.27 9.19%
May 36,890.12 37,852.42 ($962.30) -2.54%
June 37,482.52 37,256.36 $226.16 0.61%
Total $217,590.50 $207,721.53 $9,868.97 4.75%
&12Chapter 2
Q 3
Q 4
Chapter 2, Question 4
Peggy (from the preceding exercise) reviews the sales and variance information from her first six months of the year to forecast her revenues for the last six months of the year. She decides to forecast a sales increase of 4.75 percent to predict her upcoming changes in sales. Help her calculate the projected sales and revenue forecasts for the last six months of the year.
Month Sales Last Year Predicted Change Projected Sales Increase Revenue Forecast
July $36,587.91 4.75% $1,737.93 $38,325.84
August 36,989.73 4.75% $1,757.01 $38,746.74
September 40,896.32 4.75% $1,942.58 $42,838.90
October 37,858.63 4.75% $1,798.28 $39,656.91
November 37,122.45 4.75% $1,763.32 $38,885.77
December 37,188.71 4.75% $1,766.46 $38,955.17
6-Month Total $226,643.75 4.75% $10,765.58 $237,409.33
&12Chapter 2
Q 4
Q 5
Chapter 2, Question 5
The Lopez brothers, Angelo, Antonio, and Isaiah, own the Lopez Cantina. Angelo is in charge of marketing, and he is developing his sales forecast for next year. Because of his marketing efforts, he predicts a 5 percent increase in his monthly guest counts....