Amy Pelletier operates House, se, an upse scal average in mid-town Manhattan. Her clientele consists of business persons tourists visiting the city. Based on the historical sales records she keeps, year Amy believes her business will achieve a food sales increase of 4 pe per month for each of the first six months of the year. She feels this incre will be the result of increases in guest counts (not check average). At mid-year (July 1), Amy intends to increase her menu prices (and thus, her check average) by 2 percent. She feels that while these price increases could result in a slight, short-term reduction in her guest counts, the restaurant's guest counts will still increase 3 percent for the last six months of the year. Taking into account her guest count growth estimates and mid-year prices increases, Amy would like to estimate her predicted year-end food revenues. Prepare the revenue estimates for Hall's House. (Spreadsheet hint: Use the ROUND function to zero decimal places in the Guest Count Forecast columns, cells D5:D10 and D15:D20. Use the SUM function for the totals, cells D11 and D21. Otherwise, your answers will not be correct.) Months January Through June Guest Guest Count Guest Original Check Count % Increase Count Revenue Month Last Year Estimate Forecast Average Forecast January 6,270 February 6,798 March 6,336 April 6.400 May 4.930 6.864 June 6 Month Total

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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QQ!
Amy Pelletier operates Hall's House, an upscale restaurant with a $30.00 check
average in mid-town Manhattan. Her clientele consists of business persons
on
24
year Amy believes her business will achieve a food sales increase of 4 pe
per month for each of the first six months of the year. She feels this incre
will be the result of increases in guest counts (not check average).
At mid-year (July 1), Amy intends to increase her menu prices (and thus,
her check average) by 2 percent. She feels that while these price increases could
result in a slight, short-term reduction in her guest counts, the restaurant's guest
counts will still increase 3 percent for the last six months of the year.
Taking into account her guest count growth estimates and mid-year price
increases, Amy would like to estimate her predicted year-end food revenues.
Prepare the revenue estimates for Hall's House. (Spreadsheet hint: Use the
ROUND function to zero decimal places in the Guest Count Forecast columns,
cells D5 D10 and D15:D20. Use the SUM function for the totals, cells D11 and
D21. Otherwise, your answers will not be correct.)
Months January Through June
Guest
Guest Count
Guest
Original
Check
Increase
Count
Month
Last Year
Estimate
Forecast
Average
Forecast
6,270
February
6,798
March
6.336
April
6.400
674
June
6.864
& Morth Total
LAS
Transcribed Image Text:QQ! Amy Pelletier operates Hall's House, an upscale restaurant with a $30.00 check average in mid-town Manhattan. Her clientele consists of business persons on 24 year Amy believes her business will achieve a food sales increase of 4 pe per month for each of the first six months of the year. She feels this incre will be the result of increases in guest counts (not check average). At mid-year (July 1), Amy intends to increase her menu prices (and thus, her check average) by 2 percent. She feels that while these price increases could result in a slight, short-term reduction in her guest counts, the restaurant's guest counts will still increase 3 percent for the last six months of the year. Taking into account her guest count growth estimates and mid-year price increases, Amy would like to estimate her predicted year-end food revenues. Prepare the revenue estimates for Hall's House. (Spreadsheet hint: Use the ROUND function to zero decimal places in the Guest Count Forecast columns, cells D5 D10 and D15:D20. Use the SUM function for the totals, cells D11 and D21. Otherwise, your answers will not be correct.) Months January Through June Guest Guest Count Guest Original Check Increase Count Month Last Year Estimate Forecast Average Forecast 6,270 February 6,798 March 6.336 April 6.400 674 June 6.864 & Morth Total LAS
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