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Bsbfim501A

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Submitted By kafmms
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Scenario: Joseph’s Hamburger Stall
Joseph is a full time student studying for a Bachelor of Commerce at Griffith University. He is looking forward to a career in business and is prepared to invest three years in gaining the knowledge, skills and qualifications he will need to fast track his career.
But Joseph needs to find a way to make some extra money on weekends to support his way through university. Joseph is considering whether he might establish a small mobile hamburger stall which he take to various places, markets and events, wherever crowds of hungry people are likely to be gathering and sell hamburgers.
To set up his hamburger business, Joseph will have to borrow $10,000 to have a custom-made mobile hamburger stall with a built in refrigerator, gas bar-b-que plate, storage space for utensils and ingredients and sufficient work space.
The National Australia Bank is prepared to lend the money to Joseph for the project over a three year period. Joseph will have to make repayments to the Bank of $480 per month.
A local celebrity and once-upon-a-time television cook, Ms Jan Power runs a farmer’s market at the Brisbane Power House every Sunday. Joseph learns that he could rent a space at the Sunday farmer’s market for $200 per day.
Joseph has also been estimating the cost of ingredients for his hamburgers. On a per, hamburger basis he thinks he can buy ingredients as follows:

Ingredients | Cost per hamburger | Hamburger buns | $0.50 | Hamburger patties (meat) | $1.00 | Salad | $0.40 | Sauces and condiments | $0.05 | Disposable plates and napkins | $0.05 |

Joseph thinks he will be able to sell his hamburgers for $4.00 each.
But he needs to work out how many hamburgers he would need to sell to avoid losing money. He would also like to work out how many hamburgers he would have to sell to earn a profit of $500 per week.

1. | What are

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