I need this question answer general accounting question The Express Banquet has two restaurants that are open 24-hours a day. Fixed costs for the two restaurants together total$459,000 per year. Service varies from a cup of coffee to fullmeals. The average sales check per customer is $8.50. Theaverage cost of food and other variable costs for eachcustomer is $3.40. The income tax rate is 30%. Target netincome is $107,100.Compute the revenues needed to earn the target net income.

Step 1: Define Target SalesDetermining the target sale in order to generate the desired amount of…

Answered: The Express Banquet has two restaurants…

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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