Question
In: Finance
Instructions: Using the data for the assignment complete your spreadsheet and answer the five questions. When...
Instructions: Using the data for the assignment complete your spreadsheet and answer the five questions. When you make the changes for question 4 and 5 your spreadsheet will change and your spreadsheet answer from the previous question may change depending on how you build your spreadsheet. That is OK, we can look at your spreadsheet and do some quick checks. Again, we are expecting to see formulas/functions in the spreadsheet. This assignment is similar to the Biz Café Individual Assignment pricing worksheet.
What is your average weekly revenue over the six weeks the students gathered their data? Insert the answer and the cell for answer here
- . We will look for it in your spreadsheet. We need the cell so
that we don’t have to navigate your spreadsheet to find your
calculations.
- Hint: You need to average sales for each cup size separately before determining your revenue.
Coffee Sales by Cup for Six Weeks
|
Week 1 |
Small Coffee |
2045 |
|
Medium Coffee |
1689 |
|
|
Large Coffee |
922 |
|
|
Week 2 |
Small Coffee |
2065 |
|
Medium Coffee |
1751 |
|
|
Large Coffee |
901 |
|
|
Week 3 |
Small Coffee |
2057 |
|
Medium Coffee |
1008 |
|
|
Large Coffee |
868 |
|
|
Week 4 |
Small Coffee |
2032 |
|
Medium Coffee |
1698 |
|
|
Large Coffee |
901 |
|
|
Week 5 |
Small Coffee |
2035 |
|
Medium Coffee |
1723 |
|
|
Large Coffee |
865 |
|
|
Week 6 |
Small Coffee |
2076 |
|
Medium Coffee |
1802 |
|
|
Large Coffee |
903 |
Price by Cup Size
Small - $2.50
Medium - $3.50
Large - $4.50
- What is the Cost of Goods Sold for a large cup of coffee?
Insert the answer and the cell with the answer here
............ We will check the cell in your spread
sheet.
- Hint: We are looking for the Cost of Goods Sold for a single large cup of coffee not the total of all large cups sold.
Cost of Goods Sold (GOGS)
Cost of each Cup
Small Cup - $ .08
Medium Cup- $ .09
Large Cup - $.11
Coffee cost for each Cup Size
1/64 lb. of Coffee (Small) - $.11
2/64 lb. of Coffee (Medium) - $.22
3/64 lb. of Coffee (Large) - $.33
- What is your weekly gross profit based on your average weekly
cup sales? Insert the answer and the cell with the answer here
_______________. We will check the cell in your spread
sheet.
- Hint: This is where you have to use your average cup sales to determine your average cost of goods sold.
No new data required.
- What is your weekly gross profit after raising the price of
each cup size by 25 cents? Insert the answer and the cell with the
answer here _______________. We will check the cell in
your spread sheet.
- Hint: You have to determine the forecasted change in average weekly sales based on each cup size.
New Cup Prices by Size
Small - $2.75
Medium - $3.75
Large - $4.75
Customer Response to Coffee Price Change of +25 cents. (How the customer reacts to the price increase)
Small- +4% (increase in demand)
Medium - -10% (decrease in demand)
Large- +6% (increase in demand)
- Your coffee supplier has increased their coffee price to $7.68
per pound. What is your new weekly gross profit? Insert the answer
and the cell with the answer here _______________. We
will check the cell in your spread sheet.
- Hint: You have to determine your new coffee cost for each cup size.
Solutions
Expert Solution
| Week 1 | Week 2 | Week 3 | Week 4 | Week 5 | Week 6 | ||||||||||||
| Small Coffee | Medium Coffee | Large Coffee | Small Coffee | Medium Coffee | Large Coffee | Small Coffee | Medium Coffee | Large Coffee | Small Coffee | Medium Coffee | Large Coffee | Small Coffee | Medium Coffee | Large Coffee | Small Coffee | Medium Coffee | Large Coffee |
| 2045 | 1689 | 922 | 2065 | 1751 | 901 | 2057 | 1008 | 868 | 2032 | 1698 | 901 | 2035 | 1723 | 865 | 2076 | 1802 | 903 |
| SALES | after change in price | ||||||||||||||||
| Avg small coffee | 2052 | 2134 | |||||||||||||||
| Avg medium coffee | 1612 | 1451 | |||||||||||||||
| Avg large coffee | 893 | 947 | |||||||||||||||
| Cup Size | Price | COGS(cup) | COGS(coffee) | total cogs | |||||||||||||
| Small - | 2.50 | 0.08 | 0.11 | 0.19 | |||||||||||||
| Medium - | 3.50 | 0.09 | 0.22 | 0.31 | |||||||||||||
| Large - | 4.50 | 0.11 | 0.33 | 0.44 | |||||||||||||
| Increase in price | 0.25 | ||||||||||||||||
| Weekly gross profit | before increase in price | after increase of price | after change in demand | ||||||||||||||
| Small - | USD 4,739.35 | USD 5,252.27 | USD 5,462.36 | ||||||||||||||
| Medium - | USD 5,141.75 | USD 5,544.71 | USD 4,990.24 | ||||||||||||||
| Large - | USD 3,626.93 | USD 3,850.27 | USD 4,081.28 |
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