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We appreciate your visit to Read the passage and answer the following questions Luca Brazi owns a fishing boat charter business called Sleeping With the Fishes He runs charters 4. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!

Read the passage and answer the following questions:

Luca Brazi owns a fishing boat charter business called "Sleeping With the Fishes." He runs charters 4 mornings per week, three weeks per month. Luca charges $300 per person for his charters. The boat can hold up to 12 passengers, but on average, he goes out each morning with eight passengers. Groups can charter the entire boat for $3,000.

Luca bought the boat two years ago for $130,000. He expects that he will be able to run charters on the boat for a total of ten years. His daughter has offered to buy the boat for $10,000 when he upgrades to a new one after ten years.

For each charter, Luca hires a crew of two at a rate of $150/day each. The boat uses approximately 80 gallons of gas for each tour. Luca currently pays $4.15/gallon at the marina. Luca feeds his crew and guests (including himself) a lunch that costs $12 per person. Because he often doesn't know how many passengers will be on a group tour, Luca purchases lunch for 12 passengers for group tours.

Luca carries insurance that costs $6,000/year. His business license costs $624/year, and the marina slip where he keeps his boat costs $2,000/month. Luca buys advertising space in various magazines for a total of $600 per quarter. Luca generally books three groups per month. All other charters include passengers who have booked individually.

Questions:

1. What are the total monthly fixed costs?
- Answer: __________

2. How many charters are run per month?
- Answer: __________

3. In general, how many of the monthly charters are group charters?
- Answer: __________

4. In general, how many of the monthly charters are individually booked charters?
- Answer: __________

5. What percentage of fixed costs should be allocated to group charters?
- Answer: __________

6. What percentage of fixed costs should be allocated to individually booked charters?
- Answer: __________

7. How much fixed cost should be allocated to group charters?
- Answer: __________

8. How much fixed cost should be allocated to individually booked charters?
- Answer: __________

Please use whole numbers for all of your answers.

Answer :

Final answer:

The total monthly fixed costs for Luca's charter business include the insurance, business license, and marina slip rent.

Explanation:

The total monthly fixed costs for Luca's charter business can be calculated by adding up all the fixed costs he incurs each month. In this case, the fixed costs include the insurance ($6,000/year divided by 12 months), the business license ($624/year divided by 12 months), and the marina slip rent ($2,000/month)

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