Question

Seller is going to charge $1.50 per regular hot dog. He will need to spend $1,800 for equipment and 1,725 for vendor fees. Staff costs are $65 per game. There are 9 total games and he expects to sell 1,210 hot dogs per game. The cost to make each hot dog is 0.53.

What vendor fee should Biff negotiate to make a profit of $4,500 next season? How can this be done in Excel?

Answer 1