Beverage sales are $80,000 and are 40% of total sales. Food cost percentage is 22% and beverage cost percentage is 18%. Labour costs are 17% and other expenses are 20%. Calculate: a) Total Sales b) Food Sales c) Cost of food sales d) Gross Margin and Gross Margin percentage e) Net Income and Net Income Percentage

Beverage sales are $80,000 and are 40% of total sales. Food cost percentage is 22% and beverage cost percentage is 18%. Labour costs are 17% and other expenses are 20%. Calculate: a) Total Sales b) Food Sales c) Cost of food sales d) Gross Margin and Gross Margin percentage e) Net Income and Net Income Percentage

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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