Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last month, Lani's Pizza Parlor generated $46,580 in revenues. Her total expenses last month were $34,090. Create the formula Lani needs to calculate the amount

image text in transcribed
Last month, Lani's Pizza Parlor generated $46,580 in revenues. Her total expenses last month were $34,090. Create the formula Lani needs to calculate the amount of profit she made last month. Lani's Pizza Parlor Revenue Expenses Profit 2 Pamela Cantu operates a school foodservice department in a school district. She feeds approximately 1,000 students per day in three different locations. She receives an average of $1.22 in revenues per meal. Her budget, set at the beginning of the school year by the superintendent, is developed in such a way that a small amount is to be reserved for future equipment purchases and dining-room renovation. These funds are available, however, only if Pamela meets her budget. She hopes to use this year's reserve (profit) to buy a $5,000 refrigerated salad bar for the high school. Because it is the midpoint of her school year, help her determine her "performance to budget" thus far (fill in all blanks). of Item Budget Actual Budget Meals Serve 300,000 149,800 Revenue $366,000 Food Exp $170,000 $84,961 Labor Exp 125,000 62,752 Other Exp 60,000 32,460 Total Expel$ 355,000 Reserve $ 11,000

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_2

Step: 3

blur-text-image_3

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

Financial Accounting Plus

Authors: Robert Libby, Patricia Libby, Daniel Short

8th Edition

1259116832, 9781259116834

More Books

Students also viewed these Accounting questions

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago