How many kilograms of lobster must catch per day, Accounting Basics

A lobster catcher spends $12 500 per month to maintain a lobster boat.  He plans to catch an average of 20 days per month during lobster season.  For each day, he must allow approximately $95 for fuel and ice for the boat.  If his packaging and distribution costs are $2.00 per kilogram of lobster, and if lobster sells for $6.00 per kilogram: (Excel is not required for this question: Just Type your answer with proper steps)

a. How many kilograms of lobster must he catch per day to break even?

b. Suppose the catcher wants to put away money to sustain himself through inclement weather and off-season expenses.  He decides that he would like to save $10 000 per month.  How much lobster should he plan to catch to make this plan possible?

Posted Date: 3/20/2013 5:46:20 AM | Location : United States







Related Discussions:- How many kilograms of lobster must catch per day, Assignment Help, Ask Question on How many kilograms of lobster must catch per day, Get Answer, Expert's Help, How many kilograms of lobster must catch per day Discussions

Write discussion on How many kilograms of lobster must catch per day
Your posts are moderated
Related Questions
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve

Using the data from the Dell Computer annual report  determine  how  Dell  calculated  the  four  days'  supply  of  raw  materials.  Do   you think four days'supply is a valid

what is the accounting concepts and conventions? and what is the procedure to follow the accounting formats

HOME Finance Company Limited made an after-tax profit of $3.172 million for the year ended June 30, 2008. Chairman James Datta said this was a milestone for the company, with a

Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise

when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks

Question 1: (a) What do you understand by term offshore bank? (b) What are the benefits of providing and receiving banking services from an offshore bank? (c) Explain

Fundamental of Accounting 1. Explain the concept of accrued income with the help of an example. 2. Explain the five disadvantages of Single Entry System? 3. Explain the s

Accounting concepts are used in relation to accounting procedures for a specific business enterprise.  Some of these are: Going concern Verifiable

The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde