Homework Help is Here – Start Your Trial Now!
Business
Accounting
A hotel’s food department statement shows the following:  Food revenue                                     $400,000  Beverage revenue                                100,000                   Total revenue                                        500,000  Food cost of sales                                 120,000  Beverage cost of sales                            20,000  Total cost of sales                                  140,000    a.) What is the food profit?  b.) What is the beverage profit?  c.) What is the total profit on food and beverage?  d.) What is the food cost percentage?  e.) What is the beverage cost percentage?

A hotel’s food department statement shows the following:  Food revenue                                     $400,000  Beverage revenue                                100,000                   Total revenue                                        500,000  Food cost of sales                                 120,000  Beverage cost of sales                            20,000  Total cost of sales                                  140,000    a.) What is the food profit?  b.) What is the beverage profit?  c.) What is the total profit on food and beverage?  d.) What is the food cost percentage?  e.) What is the beverage cost percentage?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

A hotel’s food department statement shows the following: 

  • Food revenue                                     $400,000 
  • Beverage revenue                                100,000                  
  • Total revenue                                        500,000 
  • Food cost of sales                                 120,000 
  • Beverage cost of sales                            20,000 
  • Total cost of sales                                  140,000 

 

a.) What is the food profit? 

b.) What is the beverage profit? 

c.) What is the total profit on food and beverage? 

d.) What is the food cost percentage? 

e.) What is the beverage cost percentage? 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Break-even Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS