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Total revenue 1,448,956.00 463,666.00 652,030.00 100% 1,094,276.00 382,996.60 437,710.40 100% F&b expense Labor expense Other expense Total expenses 32% 35% 45% 40% 217,343.40 15% 17% 186,027.00 1,006,734.00 87,542.00 92% 92% 1,333,039.40 115,916.60 Profit 8% 8% Net profit percentage is still 8% in this year which is less than her profit goal of 10% hence, we can say that Anna is not able to meet her profit goal

Total revenue 1,448,956.00 463,666.00 652,030.00 100% 1,094,276.00 382,996.60 437,710.40 100% F&b expense Labor expense Other expense Total expenses 32% 35% 45% 40% 217,343.40 15% 17% 186,027.00 1,006,734.00 87,542.00 92% 92% 1,333,039.40 115,916.60 Profit 8% 8% Net profit percentage is still 8% in this year which is less than her profit goal of 10% hence, we can say that Anna is not able to meet her profit goal

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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Was Anna effective in controlling her expenses?

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田 Total revenue 1,448,956.00 463,666.00 100% 100% 1,094,276.00 382,996.60 437,710.40 F&b expense Labor expense Other expense Total expenses 32% 35% 652,030.00 45% 40% 217,343.40 1,333,039.40 115,916.60 15% 186,027.00 1,006,734.00 87,542.00 17% 92% 92% Profit 8% 8% Net profit percentage is still 8% in this year which is less than her profit goal of 10% hence, we can say that Anna is not able to meet her profit goal
Transcribed Image Text:田 Total revenue 1,448,956.00 463,666.00 100% 100% 1,094,276.00 382,996.60 437,710.40 F&b expense Labor expense Other expense Total expenses 32% 35% 652,030.00 45% 40% 217,343.40 1,333,039.40 115,916.60 15% 186,027.00 1,006,734.00 87,542.00 17% 92% 92% Profit 8% 8% Net profit percentage is still 8% in this year which is less than her profit goal of 10% hence, we can say that Anna is not able to meet her profit goal
Problem: Anna is the food and beverage director for a mid-size hotel in a beach destination area. The general manager of the hotel has given Anna a target of 10% profit for this year. Anna's staff is predominantly composed of his beach buddies. Although she is good at controlling most of her costs, she had a hard time telling her friends to go home when business slows down, and he needs to reduce her staff. If she doesn't make her profit goal, her general manager will likely reprimand her, and she could possible lose her job. Express Anna's expenses and profit as a percentage of total revenue, both this year and last year, to determine if she met her profit goal (fill in the blanks).
Transcribed Image Text:Problem: Anna is the food and beverage director for a mid-size hotel in a beach destination area. The general manager of the hotel has given Anna a target of 10% profit for this year. Anna's staff is predominantly composed of his beach buddies. Although she is good at controlling most of her costs, she had a hard time telling her friends to go home when business slows down, and he needs to reduce her staff. If she doesn't make her profit goal, her general manager will likely reprimand her, and she could possible lose her job. Express Anna's expenses and profit as a percentage of total revenue, both this year and last year, to determine if she met her profit goal (fill in the blanks).
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