Answer the Following Questions Using the Information Below

question 4

Multiple Choice

Answer the following questions using the information below:
Campesi intends to sell his customers a special round-trip airline ticket package.He is able to purchase the package from the airline carrier for $250 each.The round-trip tickets will be sold for $300 each and the airline intends to reimburse Campesi for any unsold ticket packages.Fixed costs include $7500 in advertising costs.
-How many ticket packages will Campesi need to sell in order to achieve $60 000 of operating profit?

• A)367 packages
• B)434 packages
• C)1100 packages
• D)1350 packages

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Definitions:

Bill of Exchange

A written order used in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or the person/entity named on it.

Interest Act

A law governing the calculation and payment of interest due on debts or loans, to prevent usury and unfair practices.

Contracts

A legally binding agreement between two or more parties that outlines obligations and rights concerning services, goods, or other matters.