Exercise 3.1 Sales Barnaby's Hideaway Income Statement Year Ended December 31, 20XX Change Upcoming Year $ 1.120,964.00 $ 56,048 20 $ 1.177012 20 $ 465 200.00 $ 23 260.00 $ 488 460.00 1,586,164.00 $ 79,308 20 $ 1.665.472 20 Cost of Sales $ 392,337.00 $ 102,344.00 $ 19,617 27 $ 411,954 27 $ 5.117 20 $ 107 461 20 494.681.00 $ 24.734.47 $ 519.415:47 1,091.483.00 $ 54,573.73 $ 1.146,056.73 $ $ 396,541.00 $ 99.135.00 $ 275,330.00 Gross Profit Controllable Expenses Salaries and Wages Employee Benefits Other Controllable Expenses Total Controllable Expenses Income Be ancy Costs, Interest, Depreciation, and Income Taxes Occupancy Costs Interest Depreciation Total Restaurant Profit S 15,861.64 $ 412.402.64 s 3,965.66 $ 103,100.66 s 6,500.00 $281.830.00 771,006.00 $ 26,327.30 $ 797,333,30 320,477.00 $ 348.723.43 $ $ $ 2,000.00 $ $ $ S 75,230.00 25,600.00 79,099.00 juoso 77.230.00 25,600.00 79,099.00 181,929.00 166,79443 179.929.00 140,548.00 S $ Exercise 3.1 The budgeted income statement for Barnaby's Hideaway is produced on your Excel spreadsheet. Assume that the following constitute the faced and var- able costs for the upcoming year: Fixed Costs for the Upcoming Year 1. 40 percent of salaries and wages 2. Employee benefits-40 percent of employee benefits 3. Other controllable expenses 4. Occupancy costs 5. Interest expense 6. Depreciation Variable Costs for the upcoming Year 1. Cost of food 2. Cost of beverages 3. 60 percent of salaries and wages 4. Employee benefits-60 percent of employee benefits Using the Excel spreadsheet: 1. Calculate total fixed costs for the upcoming year. 2. Calculate total variable costs for the upcoming year. 3. Calculate the variable rate for the upcoming year. 4. Calculate the break-even point for Barnaby's Hideaway for the upcoming year 5. Assuming that the average contribution margin per unit is $1450, cal culate the number of customers necessary to break even. a + 2 Exercise 3.1 The budgeted income statement for Barnaby's Hideaway is produced on your Excel spreadsheet. Assume that the following constitute the fixed and vari- able costs for the upcoming year: Fixed Costs for the Upcoming Year 1. 40 percent of salaries and wages 2. Employee benefits-40 percent of employee benefits 3. Other controllable expenses 4. Occupancy costs 5. Interest expense 6. Depreciation Variable Costs for the Upcoming Year 1. Cost of food 2. Cost of beverages 3. 60 percent of salaries and wages 4. Employee benefits-60 percent of employee benefits Using the Excel spreadsheet: 1. Calculate total fixed costs for the upcoming year. 2. Calculate total variable costs for the upcoming year 3. Calculate the variable rate for the upcoming year. 4. Calculate the break-even point for Barnaby's Hideaway for the upcoming year 5. Assuming that the average contribution margin per unit is $14.50, cal- culate the number of customers necessary to break even. Fixed Costs Salaries and Wages Employee Benefits Other Controllable Expenses Occupancy Costs Interest Depreciation Total Fixed Costs Variable Costs Cost of Food Cost of Beveerages Salaries and Wages Employee Benefits 3 Total Variable Costs 4 Variable Rate 5 Variable Rate VR= VR= VR= Contribution Rate CR = CR= CR = Break Even BEN Unit Sales Su = Su = Su
