We are making hamburgers. Here are the facts: We plan to sell 80,000 hamburgers in...
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We are making hamburgers. Here are the facts: We plan to sell 80,000 hamburgers in 2024. We want to have a beginning inventory of 15,000 hamburgers and an ending inventory of 11,000 hamburgers in stock. 1) How many hamburgers will I produce in 2024? If we produce 200,000 hamburgers in 2024 answer questions 2-4 with these facts: It takes 8 ounces of meat to make one hamburger. We will have 190 pounds of meat available on January 1. 2024 and we want to have 110 pounds of meat available on December 31, 2024. Meat is \$3 per pound. 2) How many pounds of meat will you need in 2024 ? 3) How much do you budget for cost of the meat in 2024 ? It takes 12 minutes to make one burger. We pay employees $20 per hour. 4) How much do you budget for labor cost in 2024? Sales Revenue as follows: January - $120,000 February - $110,000 March - $100,000 April - $90,000 May - $51,000 You receive 60% in cash in the month of sale, 30% in cash one month following the sale, and 10% in cash two months following the sale. 5) How much cash are you budgeting for April
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