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Ma’s Food Truck Ma has a food truck, selling pulled pork…

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Jack Ma’s Food TruckJack Ma...
Jack Ma’s Food TruckJack Ma has a food truck, selling pulled pork sandwich in Salt Lake City. The sandwich comes in a combo with coleslaw, baked beans, and French fries and is priced at $12. The food truck has variable costs, which included the cost of the food, clamshell packaging, and variable overhead. Variable costs are 40% of the revenues. There is no labor cost as Jack Ma drew no wage or salary.
On a typical day, Jack serves between 75 and 125 patrons, with an average of 100. Fixed costs include items such as gas for the generator, maintenance, business licenses, and truck depreciation. These costs total $10,000 per year. The operational year for the food truck is 180 days. Corporate income tax rates for small businesses are approximately 20% around that time.Jack recently just received a request to bring their truck to a State Fair event held in the nearby city of Provo, located 45 miles south of Sale Lake City. When Jack brings his truck to special events he does not serve his usual pulled pork sandwich combo. He serves only the sandwich, with no beans, coleslaw, or French fries. This enables him to serve customers much more quickly and to reduce their price to $9 per serving. It also let him replace his expensive clamshell packaging with a much cheaper foil wrapping. With fewer side dishes and less expensive packaging, variable costs would be reduced by $1.90 per customer when compared to his normal menu.The State Fair event looks great on paper: the promoters noted that 700 attendees were expected. Jack expects 35% of attendees would purchase food, not necessarily from him, but from one of the food vendors at the event. He would use this ratio to estimate the number of potential customers. He would then divide his estimate for potential customers by the number of vendors serving the event. If he is the only vendor, he would get all of the potential customers, if there were two vendors, he expected to get 50% of the food-buying customers.There are several other cost considerations related to the Provo event. First, the event organizers suggest a donation of $100. Second, his food truck ran on propane, and the 90 miles round trip to Provo would add $100 to his typical fuel costs. All of these costs would be avoided if he stay home in Salt Lake City.1. If Jack Ma wish to make a $100,000 profit for the year (after tax), how many pulled pork sandwiches must he sell each day at Salt Lake City?2. Prepare a contribution-format income statement for one day’s business at the food truck based on optimistic, realistic, and pessimistic projections for a regular, non-event day in Salt Lake City.3. Prepare a contribution-format income statement for the State Fair event based on an optimistic projection (no onsite competitors), a conservative projection (one onsite competitor), and a pessimistic projection (two onsite competitors).4. Would you recommend he stay in Salt Lake City for the day or go to the State Fair event in Provo?
Submitted: 6 months ago.Category: Multiple Problems
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12/3/2017
Business Tutor: F. Naz, B.Com replied 6 months ago
F. Naz
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I can do this in next 24 to 36 hours, thanks.

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Customer reply replied 6 months ago
Can you post this in a document please
Business Tutor: F. Naz, B.Com replied 6 months ago

Yes, I am sending you the offer please accept it so i can deliver the answer as mentioned, thanks.

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Business Tutor: F. Naz, B.Com replied 6 months ago

Due to some technical issue i cannot make offer on this thread but please let me know by message if you agree on the offer. The offer is $57 in total from which 51.92 you have already paid, thanks.

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Customer reply replied 6 months ago
Just post in here, please. Thanks!
Business Tutor: F. Naz, B.Com replied 6 months ago

Offer is sent please accept it, thanks.

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Customer reply replied 6 months ago
I do not have anymore money for this question, sorry
Business Tutor: F. Naz, B.Com replied 6 months ago

It only $5 more because the rest of money i think you have already deposited to just answer

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Customer reply replied 6 months ago
I guess not
Business Tutor: F. Naz, B.Com replied 6 months ago

okay so let me know do you need the answer for this or not?

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Customer reply replied 6 months ago
I cannot pay any more. I thought I already paid for the question. Sorry
Business Tutor: F. Naz, B.Com replied 6 months ago

How much you have paid for this one?

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Customer reply replied 6 months ago
I believe 36
Business Tutor: F. Naz, B.Com replied 6 months ago

but it showing me $51.92 please contact contact customer support to get confirmed and then let me know

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Customer reply replied 6 months ago
They said the question was worth $36 dollars. You are charging me the $56.92.
Business Tutor: F. Naz, B.Com replied 6 months ago

Oh okay, so you don't have the additional amount to pay

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Customer reply replied 6 months ago
Yeah I already told you that.
Business Tutor: F. Naz, B.Com replied 6 months ago

Okay, i will complete the other question and will consider this whether i can do this for $36 or not, thanks.

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Customer reply replied 6 months ago
K
Business Tutor: F. Naz, B.Com replied 6 months ago

I can do this for $36 so how you will pay me that please let me know that, thanks.

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Customer reply replied 6 months ago
I already have paid for it
Business Tutor: F. Naz, B.Com replied 6 months ago

Okay then accept so I could start working on it and can provide the answer as agreed, thanks.

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Customer reply replied 6 months ago
I would not have been able to post this question without paying the 36 dollars. I am not paying 56 extra dollars again. If you cannot do this problem then let me know so I can get a refund and have someone else do it.
Thanks
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