5. Pamela Cantu operates a school foodservice department in a small, rural community. She feeds approximately 1,000 students per day in three different locations. She receives an average of $1.20 in revenues per meal. Her budget, set at the beginning of the school year by the superintendent, is developed in such a way that a small amount is to be reserved for future equipment purchases and dining-room renovation. These funds are available, however, only if Pamela meets her budget. She hopes to use this year's reserve (profit) to buy a $5,000 refrigerated salad bar for the high school. Because it is the midpoint of her school year, help her determine her performance to budget thus far (fill in all blanks). Item Actual % of Budget Budget 300,000 Meals Served 149,800 Revenue Food Expense $170,000 $84,961 Labor Expense 125,000 63,752 Other Expenses 60,000 31,460 Total Expenses $355,000 Reserve $ 5,000 Assuming that the year is 50 percent completed and Pamela continues doing what she is doing, is she likely to meet the reserve requirement and thus be able to purchase the salad bar by the end of the year? If not, what changes should she make over the next six months to ensure that she will have the $5,000 in reserve? 5. Pamela Cantu operates a school foodservice department in a small, rural community. She feeds approximately 1,000 students per day in three different locations. She receives an average of $1.20 in revenues per meal. Her budget, set at the beginning of the school year by the superintendent, is developed in such a way that a small amount is to be reserved for future equipment purchases and dining-room renovation. These funds are available, however, only if Pamela meets her budget. She hopes to use this year's reserve (profit) to buy a $5,000 refrigerated salad bar for the high school. Because it is the midpoint of her school year, help her determine her performance to budget thus far (fill in all blanks). Item Actual % of Budget Budget 300,000 Meals Served 149,800 Revenue Food Expense $170,000 $84,961 Labor Expense 125,000 63,752 Other Expenses 60,000 31,460 Total Expenses $355,000 Reserve $ 5,000 Assuming that the year is 50 percent completed and Pamela continues doing what she is doing, is she likely to meet the reserve requirement and thus be able to purchase the salad bar by the end of the year? If not, what changes should she make over the next six months to ensure that she will have the $5,000 in reserve