Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find the Break-even point. Sales Food 2,467,307 Beverage 1,450,693 Others 0 Total Sales (100%) 3,918,560 Cost of Sales Food cost (17.7%) 693,425.48 Beverage cost (12.3%)
Find the Break-even point.
Sales Food 2,467,307 Beverage 1,450,693 Others 0 Total Sales (100%) 3,918,560 Cost of Sales Food cost (17.7%) 693,425.48 Beverage cost (12.3%) 481,935.76 Others 0 Total Cost of Goods (30%) 1,175,361.24 Labor 828,964.54 106,476.22 Salaries and Wages (21.15%) Employee Benefits (2.72%) Total Labor Cost (23.87%) Controllable Expenses 935,440.76 Kitchen Supplies (0.25%) Maintenance (0.22%) Front of house supplies (0.23%) Marketing and Advertisement (2.92%) 9,652 8,532 9,154 114,682 Total Controllable Expenses (3.62%) Fixed Costs 142,020 Occupancy costs (6%) 235,113.6 Total Fixed Costs (6%) Income Taxes (10.1%) Net Income (Profit) (32.82%) 1,430,624.4 235,113.6 -144,493.06 1,286,131.34 Monthly income statement Jan Sales Cost of goods Labor cost Other expenses May $326,000 98,000 77,817 31,362 118,821 Profit $326,000 98,000 77,817 31,362 118,821 July $326,000 98,000 77,817 31,362 118,821 Feb $326,000 98,000 77,817 31,362 118,821 Aug $330,000 100,000 78,771 31,746 119,483 Mar $326,000 98,000 77,817 31,362 118,821 Sep $330,000 100,000 78,771 31,746 119,483 Apr $326,000 98,000 77,817 31,362 118,821 Oct $326,000 98,000 77,817 31,362 118,821 June $326,000 98,000 77,817 31,362 118,821 Dec $324,560 96,000 77,473 31,223 119,864 Nov Sales Cost of goods Labor cost Other expenses Profit $326,000 97,000 77,817 31,362 118,821 5-Year income statement Year 1 Year 2 Year 3 Year 4 Year 5 3,918,560 3,975,436 3,999,761 4,062,174 4,103,439 1,175,568 1,192,639 1,199,929 1,218,653 1,231,032 Sales Cost of goods Labor cost Other expenses Profit (Without tax) 935,361 948,937 954,743 969,635 979,491 376,960 382,437 384,778 390,782 394,751 1,430,671 1,451,423 1,460,311 1,483,104 1,498,165Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started