Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

for dollars and decimals round to nearest hundreth, for percents roudn to nearest tenth. show work for all answeres besides the gray fill in the

image text in transcribed
image text in transcribed
for dollars and decimals round to nearest hundreth, for percents roudn to nearest tenth. show work for all answeres besides the gray fill in the blank
Name: 4. The food and beverage department at the Fox Hills Country Club is an important part of the Club's overall profit structure. February food sales were $310,450 and beverage sales were 549,875. Because they represent such significant costs, Frankie Watson, the Club's Food and Beverage Director, keeps a careful watch on her food and beverage cost percentages. Using the following information for February that Frankle has recorded in USAR format, help her complete her calculations and then answer the questions that follow Fox Hills Country Club: February Food Sales Beverage Sales $310,450 $49,875 BEGINNING FOOD INVENTORY Food Purchases Ending Inventory Transfers "Out of Kitchen Transfers "Into Kitchen Employee Meals $5,410 $72,385 $5.772 $922 $1,346 $1,622 $1,099 BEGINNING BEVERAGE INVENTORY Beverage Purchases Ending Beverage Inventory Transfers "Out of Bar" Transfers "Into Bar $12,588 $1,244 $1,346 $922 Beginning Food Inventory Purchases Food Available for Sale Ending Inventory Cost of Food Consumed Transfers Out Transfers in Employee Meals Cost of Food Sold Food Sales Food Cost % Beginning leverage Inventory Purchases Beverage Available for Sale Ending Inventory Transfers Out Transfers in Cost of Beverage Sold Beverage Sales Beverage Cost Fill in the gray blanks in the chart above (5 points) and answer the following questions. Show your work (2 point each) (a) What was the amount of Frankie's cost of food consumed in the month of February? (b) What was the amount of Frankie's cost of food sold in the month of February? (c) What was Frankie's food cost percentage in the month of February? (d) What was the amount of Frankie's cost of beverage sold in the month of February? (e) What was Frankie's beverage cost percentage in the month of February

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operational Profitability Conducting Management Audits

Authors: Robert M. Torok, Patrick J. Cordon

1st Edition

0471172251, 978-0471172253

More Books

Students also viewed these Accounting questions