Food Sales Beverage Sales Total Sales Food Cost Beverage Cost Total Cost of Sales Gross Profit Labor Cost Other operating Overhead Total Expenses Profit (Net Income) What is the food cost percentage? A. 33% OB. 2.98% C. 35% D.36% 891,687 157,356 312.090 39.339 257,016 162.602 149,294

Food Sales Beverage Sales Total Sales Food Cost Beverage Cost Total Cost of Sales Gross Profit Labor Cost Other operating Overhead Total Expenses Profit (Net Income) What is the food cost percentage? A. 33% OB. 2.98% C. 35% D.36% 891,687 157,356 312.090 39.339 257,016 162.602 149,294

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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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

891.687
157,356
312.090
39.339
257,016
162,602
149,294
Food Sales
Beverage Sales
Total Sales
Food Cost
Beverage Cost
Total Cost of Sales
Gross Profit
Labor Cost
Other operating
Overhead
Total Expenses
Profit (Net Income)
What is the food cost percentage?
A. 33%
B. 2.98%
O C. 35%
O D.36%
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