A Pastry Store Wants to Know How Many Dozens of Muffins

question 26

Essay

A pastry store wants to know how many dozens of muffins to bake each day. Every dozen they sell fresh in the shop returns a profit of $5.00. Every dozen they bake but do not sell on the day they are baked is given to a local charity at a loss of $3.00 a dozen. The business is fairly stable in that they never sell less than 50 dozen nor more than 80 dozen muffins. Their sales history, rounded to the nearest ten dozen muffins is as shown:
$\begin{array}{ll}\text { Dozens of }&\text { Number of Days }\\\text { Muffins Sold }&\text { That Many Sold }\\50 & 12 \\60 & 37 \\70 & 45 \\80 & 18\end{array}$
They want to run a ten-day simulation for production rates of 50, 60, 70, and 80 muffins to determine the profit (loss) for each. They generated the following random numbers for days 1-10 respectively: 63, 13, 67, 50, 71, 25, 44, 00, 56, and 68.
a. What range of random numbers corresponds to 70 muffins sold?
b. What is the profit for day 3 if they make 70 dozen muffins?
c. What is the average daily profit (for all ten days) corresponding to 60 dozen muffins made?

Understand the purpose and nature of reconciliations required under IFRS 8 for segment reporting.

Analyze the importance of segmental information disclosure in assessing business risks and performance.

Familiarize with the exclusions and exceptions in segment reporting and interim financial reporting.

Calculate income tax expense for interim periods following the requirements of IAS 34.

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Definitions:

Short Sleep Duration

A condition characterized by sleeping for fewer hours than what is recommended for a particular age group, which can affect health adversely.

Weight Gain

The increase in body weight over time, which can result from various factors including overeating, reduced physical activity, or underlying health conditions.

Ideal Weight

A weight range considered to be the most beneficial for health, as determined by medical or fitness professionals based on factors like age, sex, and height.

Health Problems

Refers to any condition that affects an individual's physical or mental wellbeing.