Problem:
Break-Even Analysis Jimmy's Seafood Restaurant is a family-owned business on the North Carolina coast. In the last several months, the owner has seen a drop-off in business. Last month, the restaurant broke even. The owner looked over the records and saw that the restaurant served 1,000 meals last month (variable cost is $10 per meal) and incurred fixed costs totaling $25,000.
Required:
Question: Calculate Jimmy's average selling price per meal.
Note: Provide support for your rationale.