Chapter 11; Question1 Read the scenario in question 1,and complete the table below, then answer the subsequent questions:

1. Zheng Chung is the managing owner of the Stillwater Grill. This year, 2010, was a good year for him. Now he is preparing his 2011 budget. Using the information Zheng believes will be true, help him complete the dollar and percentage amounts in the budget worksheet that follows, then answer the questions he has about next year. Based upon his sales histories, sales projections, and cost records, Zheng predicts that in 201 1 his operation will experience: A 6% increase in food sales A 4% increase in beverage sales No change in food or beverage product cost percentage Salaries and wages that will increase 3.5% Benefits that will increase 10% An increase in all other operating expenses (except depreciation) of 2% A depreciation schedule that calls for a $750 per month entry Interest payments for loans that will total $1,100 per month Tax payments that are estimated to be 25% of income before income taxes