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 |
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---|---|---|---|---|---|---|---|
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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