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Tony’s Hot Dog Stand1. 1,600 people per day pass stand; 1 of 4buy2. ¼ buy=conversion rate=25%3. Cogs=$.254. Avg. customer buys 2 tube steaks @$1each5. Cost of tube steaks - $.25 each6. Customer buys 1x/day7. Fixed Costs - $36K Tony salary; $12Kdepreciation ((he bought the stand for $60,000/5=12,000) So thetotal fixed cost is $48,000)8. Business Days – 250 per year9. Sales (Revenue) is $200,00010. Variable Cost is $50,00011. Fix Cost is $48,000Now we need to calculate Tony’s Break-Even....For Tony,this is a number he wants to know every day. Calculating theBreak-Even for the Hot Dog Stand BE = FC/GM%Yearly Break Even = ________ FC= _______ GM% = _______%Monthly Break-Even = ___________ FC =_______ GM% =________%Daily Break Even = _____________ FC= _______ GM % =_______ %How did you calculate the breakeven?What does this actually mean? Tony has to sell ___ hotdogs per day just to stay in business, anything after that isprofit!What is Tony’s Net Profit (year) (This is the stuff youwant)?