Help!! question is "Calculate the profit and loss for each month?"
Scenario: Timothy McGee, RD is a Child Nutrition Program Director. He is responsible for completing an Income Statement for all six of the Sweetwater Schools Child Nutrition programs at the end of each month. In early May, he used the financial data presented in the table below to perform several financial analysis and comparisons. He realizes that the cost of food used has increased although the number of meals has not. Further investigation indicates that monthly inventories show costs increasing significantly, especially at the Little Creek High School. Timothy sets up a meeting with Anthony, the Manager at Little Creek HS, and with Ziva, the Production Supervisor to discuss his findings and concerns. Timothy begins by asking Anthony to explain how he takes end-of-the month inventories. Anthony explains that he does not have time to take a complete inventory every month, because he's had to fill in for several employees recently, and that he did his best based on how much time he has. He explains that he makes sure to always check the expensive stuff. Timothy responded "Inventory is a priority task for managers and not completing it correctly means that you're out of compliance with the state regulations". Timothy decides to give this problem more thought, before deciding what to do about it. On his way out, Timothy runs into Ziva, the Production Supervisor who was helping employees preparing chicken strips from scratch in place of chicken nuggets. Ziva quickly remarked, "Just wanted you to know I cleaned out the freezer and threw out a lot of stuff that was outdated, or that could not be identified. I did the same thing in the refrigerator and storerooms a couple of times last few weeks too." Timothy was about to ask for more details, but Ziva quickly commented, "Can't talk now; we need to finish with the chicken to have it ready for lunch." Timothy made a mental note to himself to calculate the average inventory and inventory turnover at Little Creek HS for the last few months to see if the ratio had changed significantly. Timothy decides to go back to his office to think about it before addressing this issue. On his way back to the office, Timothy notices a cart of dairy products in the school corridor, that was Scenario: Timothy McGee, RD is a Child Nutrition Program Director. He is responsible for completing an Income Statement for all six of the Sweetwater Schools Child Nutrition programs at the end of each month. In early May, he used the financial data presented in the table below to perform several financial analysis and comparisons. He realizes that the cost of food used has increased although the number of meals has not. Further investigation indicates that monthly inventories show costs increasing significantly, especially at the Little Creek High School. Timothy sets up a meeting with Anthony, the Manager at Little Creek HS, and with Ziva, the Production Supervisor to discuss his findings and concerns. Timothy begins by asking Anthony to explain how he takes end-of-the month inventories. Anthony explains that he does not have time to take a complete inventory every month, because he's had to fill in for several employees recently, and that he did his best based on how much time he has. He explains that he makes sure to always check the expensive stuff. Timothy responded "Inventory is a priority task for managers and not completing it correctly means that you're out of compliance with the state regulations". Timothy decides to give this problem more thought, before deciding what to do about it. On his way out, Timothy runs into Ziva, the Production Supervisor who was helping employees preparing chicken strips from scratch in place of chicken nuggets. Ziva quickly remarked, "Just wanted you to know I cleaned out the freezer and threw out a lot of stuff that was outdated, or that could not be identified. I did the same thing in the refrigerator and storerooms a couple of times last few weeks too." Timothy was about to ask for more details, but Ziva quickly commented, "Can't talk now; we need to finish with the chicken to have it ready for lunch." Timothy made a mental note to himself to calculate the average inventory and inventory turnover at Little Creek HS for the last few months to see if the ratio had changed significantly. Timothy decides to go back to his office to think about it before addressing this issue. On his way back to the office, Timothy notices a cart of dairy products in the school corridor, that was
