chapter name: Cost control

1. Food sales at Riverview Caf in September 2021 were $65,324, and beverage sales were $20,400. If a 30 percent labor cost is expected, what would that be in dollars? (Rounded to a whole number) 2. If fixed costs are $126,000, what are the dollar sales required to achieve $21,220 profit if variable rate is .6? (Rounded to a hundredth) 3. Find number of customers required to achieve profit of $43,803 if sales price per unit is $19.50, fixed costs are $99,997 and the variable rate is .4. (Rounded to a hundredth) 4. What are the fixed costs if the contribution rate is .65; sales price per unit is $18.40; number of customers is 26,549 and required profit is $33,000. (Rounded to a hundredth) 5. Given the information below, find out and insert the missing dollar amounts in Dollars column and calculate the missing percentages in the Percent" column. Round everything to hundredth unless the number naturally rounds up to a whole number or tenth of a decimal. Category Food Sales Food Cost Labor Cost Overhead Dollars $70,518 $20,47 $10,975 2 ? Percen t 100% ? ? ? 10% Profit 6. Short answer. Assume you are a receiving clerk in a fine-dining restaurant. Fifty pounds of strip steak have been delivered. The quality meets the restaurant's criteria, but the quantity and price are different from those ordered over the phone. You have not yet signed the invoice, and the driver is still present. How would you deal with the apparent problems a) on the spot and b) in the future? One short paragraph (a few sentences) will be enough to answer. Answer: a) on the spot solution b) future solution 7. Below is Sunshine Restaurant's 2020 Income Statement. There are 3 questions to answer below it. Each answer is worth 1 point, so the question is worth 3 points. Sunshine Restaurant's 2020 Income Statement Item S Food revenue 1,400,000 Food cost 434.000 Payroll 364.000 Payroll taxes benefits 42.000 Direct operating expenses 112.000 Entertainment 14.000 Advertising 42.000 Utilities 70,000 Administrative general 56.000 Repaits maintenance 14,000 Rent 70,000 Real estate property taxes 28.000 Insurance 14,000 Interest expense 42,000 Depreciation 28.000 Income (profit) before taxes 70,000 Unforeseen problems beyond the control of the owner (COVID lockdown that has significantly reduced the tourists' numbers on which the restaurant relies) have caused a substantial reduction in revenue. When preparing the budget for 2021, the owner re-forecasted revenues down to $1,100,000. Please answer the following questions: a) What will be the fixed costs under the new budget? (The fixed costs are highlighted in red. In this question, you don't need to think about fixed and variable portions of labor; just assume labor costs and benefits are variable.) b) Assuming the owner wants to maintain the original "bottom line" profit ($70,000) before taxes, how much in revenues will remain to be spent on costs highlighted in blue? c) Assuming the owner is willing to break even on the restaurant's operation, how much should be spent on costs highlighted in blue? 8. What is reorder quantity of tomato cans if the par stock is 29 cans, the product is delivered every 5 days, and the usage is 2 cans per day