P5.11 The sales records for a coffee shop that has only six items on its menu show the following quantities sold during the month of January. Item standard cost and selling prices are also indicated.

Item Cost Selling Price Quantity Sold 1 $2.00 $6.00 654 2 1.10 4.50 2,196 3 2.25 7.00 1,110 4 1.75 5.00 990 5 2.25 5.00 295 6 2.00 7.95 259 Actual cost for the month of January was $9,201. Actual revenue for the month of January was $30,060.

a. Calculate the standard cost percentage and the actual cost percentage for January. Round all dollar amounts to the nearest dollar.

b. Compare the results. If you were the dining room manager, explain why you would or would not be satisfied with the results.