6. Given the below information, use the Hubbart Formula to calculate the minimum average spend per cover required to attain the desired ROI: · 100-seat restaurant Construction and start-up costs amount to $5,000,000 • No additional working capital investment is required · 100% of the capital cost will be raised in the form of equity · The projected average seat turnover is 3 The restaurant will be open 320 days a year The investors require a 15% return on their investment annually Income tax rate is 30% Estimated undistributed expenses, not including income taxes, total $1,000,000 · Forecasted average food cost is 30% of sales

6. Given the below information, use the Hubbart Formula to calculate the minimum average spend per cover required to attain the desired ROI: · 100-seat restaurant Construction and start-up costs amount to $5,000,000 • No additional working capital investment is required · 100% of the capital cost will be raised in the form of equity · The projected average seat turnover is 3 The restaurant will be open 320 days a year The investors require a 15% return on their investment annually Income tax rate is 30% Estimated undistributed expenses, not including income taxes, total $1,000,000 · Forecasted average food cost is 30% of sales

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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