Pine Restaurant currently has a fish and chips meal that sells for $13. The cost of the meal is $4. The restaurant wants tomaintain a food cost percentage of 30%.Do not enter dollar signs or commas in the input boxes.Round your answers to 2 decimal places.a) What is the food cost percentage of the fish and chips meal?Food Cost Percentage:%b) To achieve a food cost percentage of 30%, what should the fish and chips meal sell for?Selling Price: $

In this question, we will calculate the food cost percentage and the selling price, and for the…

Answered: he Restaurant currently has a fish and…

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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and Patisser X ot.php?attempt=D2880962&cmid=866264 . E Enduring Word Bibl. b My Questions | bart. nancial Aid Student Accounts Resources Campus Store If the Revenue (sales) decreases and everything else remains the same, what happens to the Food Cost percentage? Why? Beginning Inventory $11,500 Dairy Alternative Purchases (+) $1,000 Produce Purchases (+) $500 Protein Purchases (+) $1,000 Dry Goods Purchases (+) $1,000 Ending Inventory |(-) $10,900 Food Cost (=) $4,100 Revenue (+) $12,500 Food Cost % (=) 32.8% Select one: a. Food cost % decreases because the ratio of food cost to revenue will be higher. b. Food cost % increases because the ratio of food cost to revenue will be lower. c. Food cost % decreases because the ratio of food cost to revenue will be lower. d. Food cost % increases because the ratio of food cost to revenue will be higher.
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he Restaurant currently has a fish and chips meal that sells f aintain a food cost percentage of 30%. not enter dollar signs or commas in the input boxes. und your answers to 2 decimal places.