Create a spreadsheet in Excel like the one below. Use formulas to fill in the shaded cells.
Create a spreadsheet in Excel like the one below. Use formulas to fill in the shaded cells.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
| Lucir's P & L |
|
||||||
|---|---|---|---|---|---|---|---|
| Sales | Last Year | % | This Year | % | |||
| Food Sales | $ 3,245,900.00 | 86.96% | $3,570,490.00 | 87.16% | This year Food Sales Increase 10% | ||
| Beverage Sales | $ 486,887.00 | 13.04% | $525,837.96 | 12.84% | This year Beverage Sales increase by 8% | ||
| Total Sales | $ 3,732,787.00 | 100.00% | $ 3,989,672.00 | 100.00% | |||
| Cost of Sales | |||||||
| Food | $ 885,104.00 | 27.3% | $4,096,327.96 | Calculate | |||
| Beverage | $ 100,005.00 | 20.5% | Calculate | Calculate | |||
| Total Cost of Sales | $985,109.00 | 26.4% | Calculate | Calculate | |||
| Labor | |||||||
| Management | $ 192,330.00 | Calculate | $ 204,227.00 | Calculate | |||
| Staff | $ 769,319.00 | Calculate | $ 785,487.00 | Calculate | |||
| Employee Benefits | $ 130,784.00 | Calculate | $ 133,532.00 | Calculate | |||
| Total Labor | Calculate | Calculate | Calculate | Calculate | |||
| PRIME COST | Calculate | Calculate | Calculate | Calculate | |||
| Other Controllable Expenses | |||||||
| Direct Operating Expense | $ 146,669.00 | Calculate | $ 155,375.00 | Calculate | |||
| Music & Entertainment | $ 2,767.00 | Calculate | $ 8,386.00 | Calculate | |||
| Marketing | $ 52,579.00 | Calculate | $ 6,983.00 | Calculate | |||
| Utilities | $ 88,555.00 | Calculate | $ 97,836.00 | Calculate | |||
| Administrative & General Expenses | $ 80,252.00 | Calculate | $ 80,269.00 | Calculate | |||
| Repairs & Maintenance | $ 41,510.00 | Calculate | $ 45,632.00 | Calculate | |||
| Total Controllable Expenses | Calculate | Calculate | Calculate | Calculate | |||
| Controllable Income | Calculate | Calculate | Calculate | ||||
| Non-Controllable Expenses | |||||||
| Occupancy Costs | $ 144,000.00 | Calculate | $ 155,000.00 | Calculate | |||
| Equipment Leases | $ - | Calculate | $ - | Calculate | |||
| $ 49,812.00 | Calculate | $ 61,498.00 | Calculate | ||||
| Total Non-Controllable Expenses | Calculate | Calculate | Calculate | Calculate | |||
| Restaurant Operating Income | Calculate | Calculate | Calculate | Calculate | |||
| Interest Expense | $ 105,700.00 | Calculate | $ 95,675.00 | Calculate | |||
| Income before Income Taxes | Calculate | Calculate | $ 1,016,948.31 | Calculate | |||
| Income taxes | $ 225,146.00 | Calculate | $ 345,150.00 | Calculate | |||
| Net Income Before Taxes | Calculate | Calculate | Calculate | Calculate | |||
- Create a spreadsheet in Excel like the one below. Use formulas to fill in the shaded cells. This is what I have so far.
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