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At Professor Jacks seafood cuisine, monthly fixed costs are $122,500 with a variable cost per...

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Accounting

At Professor Jacks seafood cuisine, monthly fixed costs are $122,500 with a variable cost per meal of $17. The average selling price per meal is $54.00.

  1. What is the number of meals sold to breakeven?
  2. What is the contribution margin?
  3. If the owner wants a profit of $50,000 per month, how many meals do they need to sell?

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