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Understanding Business Operations Mary Torres owns and operates a bakery. During the
Chapter 2, Problem 2-6(choose chapter or problem)
Understanding Business Operations
Mary Torres owns and operates a bakery. During the past week, she sold 500 loaves of bread at $2.25 per loaf. The raw materials for each loaf cost Ms. Torres $1.80.
Instructions In your working papers, write the answers to the following questions:
1. What type of business does Ms. Torres operate?
2. What was the profit on bread sales for the week?
3. Aside from the costs for raw materials, what other costs will Ms. Torres use to calculate her profit for the week?
Questions & Answers
QUESTION:
Understanding Business Operations
Mary Torres owns and operates a bakery. During the past week, she sold 500 loaves of bread at $2.25 per loaf. The raw materials for each loaf cost Ms. Torres $1.80.
Instructions In your working papers, write the answers to the following questions:
1. What type of business does Ms. Torres operate?
2. What was the profit on bread sales for the week?
3. Aside from the costs for raw materials, what other costs will Ms. Torres use to calculate her profit for the week?
ANSWER:Step 1 of 4
Direct material is the material used to produce finished goods identified directly from the finished good. For example, Glass will be considered as direct material in the production of Television.