GT 101 Business Mathematics Research Assignment
For this assignment you will be determining monthly profit or loss from a Funeral Service business. You are provided with the amounts to use for building rental, utilities, hearse payment, supplies and flowers.
Research to find a business checking account, the cost of caskets and the average cost of funeral services (note, we are doing just the basics. There are many more expenses and variables for an actual business).
Assume you are doing all the work and have no employees.
Maximum number of services per month is 7. No more than 3 Gold services. Assume checking account balance is below $1000 on average.
Costs:
1. Rent: $7425/mo
2. Utilities: $875/mo
3. Hearse: $528/mo
4. Bank Fees: Research a business checking account and find the fees associated.
5. Supplies: Research a supplier of caskets.
a. Caskets for modest, moderate and gold service.
b. Supplies per service: $615
c. Flowers
i. Modest Service: $125
ii. Moderate Service: $275
iii. Gold Service: $500
Income: Research the average cost for a funeral. Include the link or resource used.
1. Modest ceremony = 56% of the Average Cost
2. Moderate ceremony = Average Cost
3. Gold ceremony = 133% of the Average Cost
To Do: Fill out the sheet on the next page based on your research. Then use the values to calculate the other needed information. (Instead of using the sheet on the next page, you can use the spreadsheet. Anything with an x must be completed)
Name: _________________________________
Date: ____________
Number of Services per Month (no more than 7 total and no more than 3 Gold): __________
a. Modest: ____
b. Moderate: ____
c. Gold: ____
Constant Expenses:
1. Rent: $7425
2. Utilities: $875
3. Hearse: $528/mo
4. Bank Fees:
a. Name of Checking Account: ___________________________________________
b. Link to Website: _____________________________________________________
c. Monthly Fee:______________
Total Constant Expenses: ____________
Variable Expenses:
1. Supplies
a. Per Service: $615
b. Cost of Supplies for all services: ________
2. Casket Expenses
Name of Supplier: ____________________________________________________
Link to Website of Supplier: _____________________________________________
a. Modest Cost Per Casket: ______
b. Total Cost for Modest Services: _____
c. Moderate Cost Per Casket: ______
d. Total Cost for Moderate Services: _____
e. Gold Cost Per Casket: ______
f. Total Cost for Gold Services: _____
3. Cost of Flowers
a. Cost per Modest Service: $125
b. Total Cost for Modest Services: ______
c. Cost per Moderate Service: $275
d. Total Cost for Moderate Services: ______
e. Cost per Gold Service: $500
f. Total Cost for Gold Services: ______
Total Variable Costs: __________
Revenue:
Name of Resource on Average Cost of Funeral Service: ___________________________
Link to Resource: __________________________________________________________
Cost of Average Service: ________
1. Charge for services:
a. Modest service: ________
b. Total Revenue for Modest Services: _______
