Kathy Piper is the Regional Manager of Ruby Tuesday's chain. She has the following balances in the Marion Restaurant: Closing Inv 50,000 Opening Inv 30,000 Purchases 18,000 Transfers to other units 200 Cooking Liquor 450 Promo Expense 120 Transfers from other units 40 Employee meals 200 A) Calculate cost of food issued B) Calculate cost of food consumed C) Calculate cost of food sold D)Kathy suspects that approximately 10% of the food purchased was lost due to spoilage or pilferage. Why doesn't she subtract this from the cost of food sold? dont give handwritten answer thanku
Kathy Piper is the Regional Manager of Ruby Tuesday's chain. She has the following balances in the Marion Restaurant: Closing Inv 50,000 Opening Inv 30,000 Purchases 18,000 Transfers to other units 200 Cooking Liquor 450 Promo Expense 120 Transfers from other units 40 Employee meals 200 A) Calculate cost of food issued B) Calculate cost of food consumed C) Calculate cost of food sold D)Kathy suspects that approximately 10% of the food purchased was lost due to spoilage or pilferage. Why doesn't she subtract this from the cost of food sold? dont give handwritten answer thanku
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kathy Piper is the Regional Manager of Ruby Tuesday's chain. She has the following balances in the Marion Restaurant:
Closing Inv 50,000
Opening Inv 30,000
Purchases 18,000
Transfers to other units 200
Cooking Liquor 450
Promo Expense 120
Transfers from other units 40
Employee meals 200
A) Calculate cost of food issued
B) Calculate cost of food consumed
C) Calculate cost of food sold D)Kathy suspects that approximately 10% of the food purchased was lost due to spoilage or pilferage. Why doesn't she subtract this from the cost of food sold?
dont give handwritten answer thanku
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