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Following are excerpts from an income statement: Food Sales                               $265,000 Beverage Sales                            80,000 Cost of food sold                        78,000 Cost of Beverage sold                 20,000 Labor                                           111,000 Controllable Expenses                67,000 Non-controllable Expenses        27,000 Other Expenses                              4,000   Identify these items from the above information: Prime cost dollars and percentage Controllable Income dollars and percentage Operating Income dollars and percentage Income before Income Taxes dollars and percentage Food Cost of Sales % Beverage Cost of Sales % Total Cost of Sales %

Following are excerpts from an income statement: Food Sales                               $265,000 Beverage Sales                            80,000 Cost of food sold                        78,000 Cost of Beverage sold                 20,000 Labor                                           111,000 Controllable Expenses                67,000 Non-controllable Expenses        27,000 Other Expenses                              4,000   Identify these items from the above information: Prime cost dollars and percentage Controllable Income dollars and percentage Operating Income dollars and percentage Income before Income Taxes dollars and percentage Food Cost of Sales % Beverage Cost of Sales % Total Cost of Sales %

FINANCIAL ACCOUNTING
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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Following are excerpts from an income statement:

Food Sales                               $265,000

Beverage Sales                            80,000

Cost of food sold                        78,000

Cost of Beverage sold                 20,000

Labor                                           111,000

Controllable Expenses                67,000

Non-controllable Expenses        27,000

Other Expenses                              4,000

 

Identify these items from the above information:

  1. Prime cost dollars and percentage
  2. Controllable Income dollars and percentage
  3. Operating Income dollars and percentage
  4. Income before Income Taxes dollars and percentage
  5. Food Cost of Sales %
  6. Beverage Cost of Sales %
  7. Total Cost of Sales %
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