Lemonade Tycoon Info

Lemonade Tycoon Info - The University of Texas at Austin...

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The University of Texas at Austin McCombs School of Business ACC 310F: Foundations of Accounting Lemonade Tycoon Information Overview During the semester you'll help run a virtual business that will allow you to apply the concepts of the class; the virtual business is a lemonade stand in Lemonade Tycoon. You’ll help run your team’s company (i.e. class section) by managing various aspects of a lemonade stand such as setting a price, choosing a location and managing costs. Your objective is to maximize your company’s profits and end the game in the best financial position possible relative to your competition. We’ll play the game in “challenge mode” for a maximum of 30 days during which your section will make decisions as a class and then I’ll input those decisions into my copy of the simulation and then run a day of operations. Although not required, if you’d like to practice with the simulation, Lemonade Tycoon is available as a free App on iTunes or for purchase in a PC format at websites such as Shockwave.com. Lemonade Tycoon Information and Tips Weather and Temperature Keep a close eye on weather and temperature. This will help you estimate how many potential customers you should meet and decide on an appropriate recipe and price. Keep in mind that what you see every morning is a forecast and as such it may (and will) differ from the weather and temperature you’ll experience during the day. Choosing your Recipe Try different combinations of ingredients and see what works best. Remember to keep a good balance between lemon and sugar; you don’t want your lemonade to be too sweet or too sour. It’s good to add ice cubes when the temperature is higher; it keeps the lemonade cool, plus it allows you to serve more cups per pitcher. Beware that when you are adding ice you need to keep the balance with the other ingredients. The default recipe includes 4 lemons and 2 cups of sugar per pitcher as well as 2 ice cubes per cup; this recipe produces 12 cups per pitcher. Buying Supplies Buy everything you need to last for a day, at least. You don’t want to run out of stock in the middle of a promising day. Depending on the stand you are using there is a limit on the amount of goods you can stock. Also, note that all goods besides cups are perishable; ice is good for one day only, lemons for a few days, and a couple of weeks for sugar. Try not to keep too much in stock or you’ll lose money.
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This note was uploaded on 10/04/2011 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas.

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Lemonade Tycoon Info - The University of Texas at Austin...

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