What are examples of fixed and variable costs in a fast food restaurant? How do you...
What are examples of fixed and variable costs in a fast food restaurant? How do you think a firm will be able to maximize their profits if the economy starts to go into a recession?
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What are examples of fixed and variable costs in a fast food
restaurant? How do you...
Go to a fast-food restaurant (or think of the last time you were at a fast-food...
Go to a fast-food restaurant (or think of the last time you were at a fast-food restaurant). Observe the steps involved in providing a meal to a customer. You will be watching for value-added steps and non-value-added steps. Answer the following questions. Discussion Questions 1. Describe the steps involved with delivering the meal to the customer that you can observe, 2. Describe the "behind-the-scenes" processes that are likely in the restaurant, such as cleaning, stocking, and cooking activities. 3. With...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge is...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge is used in planning, making strategic and tactical decisions, evaluating performance, and controlling operations. Each group member is responsible for one of the following businesses. Retail store that sells music CDs Dental clinic Fast-food restaurant Auto repair shop Required In each business decide what single measure best reflects the overall level of activity in the business and give examples of costs that are fixed and...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge is used in plan...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge is used in planning, making strategic and tactical decisions, evaluating performance, and controlling operations. Each group member is responsible for one of the following businesses. Retail store that sells music CDs Dental clinic Fast-food restaurant Auto repair shop Required In each business decide what single measure best reflects the overall level of activity in the business and give examples of costs that are fixed and...
OceanGate sells external hard drives for $250 each. Its total fixed costs are $30 million, and its variable costs per un...
OceanGate sells external hard drives for $250 each. Its total fixed costs are $30 million, and its variable costs per unit are $200. The corporate tax rate is 30%. If the economy is strong, the firm will sell 2 million drives, but if there is a recession, it will sell only half as many. a. What will be the percentage decline in sales if the economy enters a recession? b. What will be the percentage decline in profits if the...
How do you define the fast food market? What market structure best describes the fast food...
How do you define the fast food market? What market structure best describes the fast food industry? Why? Describe briefly what happened in the Fast Food industry until 2012. Which microeconomic/macroeconomic factors played a role? How did McDonald’s react to these influences? Describe the current state of the fast food industry, including macroeconomic indicators, such as unemployment rate, wage rate, etc. How does the fast food industry compare to the overall state of the economy in the U.S.? Which of...
Value-Added versus Non-Value-Added at a Restaurant Go to a fast-food restaurant (or think of the last...
Value-Added versus Non-Value-Added at a Restaurant Go to a fast-food restaurant (or think of the last time you were at a fast-food restaurant). Observe the steps involved in providing a meal to a customer. You will be watching for value-added steps and non-value-added steps. Answer the following questions. Basic Discussion Questions Describe the steps involved with delivering the meal to the customer that you can observe. Describe the “behind-the-scenes” processes that are likely in the restaurant, such as cleaning, stocking,...
Using a typical fast food business give two examples of the following costs: direct material, direct...
Using a typical fast food business give two examples of the following costs: direct material, direct labor, fixed manufacturing overhead, and variable manufacturing overhead
A fast food junkie hypothesizes that how often a student goes out for fast food will...
A fast food junkie hypothesizes that how often a student goes out for fast food will vary based on their favorite fast food restaurant (Arby's, McDonald's, Taco Bell, Wendy's). To prove this a sample of 52 college students were asked how many times a week they go out for fast food and what fast food restaurant is their favorite. The data was analyzed using SPSS and the following output was generated: ANOVA Sig How many times a week do you...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge its...
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge its used in planning, making strategic and tactical decisions, evaluating performance, and controlling operations. Required: Form a team consisting of three persons. Each team member will be responsible for one of the following businesses: a. Dental clinic b. Fast-food restaurant c. Auto repair shop 1. For each business, decide what single measure best reflects the overall level of activity in the business and give examples...
Suppose you are the manager of a McDonald fast food restaurant, in Toronto area, and are...
Suppose you are the manager of a McDonald fast food restaurant, in Toronto area, and are analyzing the market for hamburgers. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and quantity have changed. a. Winter starts and the weather turns sharply colder. b. The price of pizza, a substitute from a Pizza Pizza, falls. c. The price of information equipment installed for the restaurant falls. d. A better method...
Go to a fast-food restaurant (or think of the last time you were at a fast-food restaurant). Observe the steps involved in providing a meal to a customer. You will be watching for value-added steps and non-value-added steps. Answer the following questions. Discussion Questions 1. Describe the steps involved with delivering the meal to the customer that you can observe, 2. Describe the "behind-the-scenes" processes that are likely in the restaurant, such as cleaning, stocking, and cooking activities. 3. With...
A fast food junkie hypothesizes that how often a student goes out for fast food will vary based on their favorite fast food restaurant (Arby's, McDonald's, Taco Bell, Wendy's). To prove this a sample of 52 college students were asked how many times a week they go out for fast food and what fast food restaurant is their favorite. The data was analyzed using SPSS and the following output was generated: ANOVA Sig How many times a week do you...
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