Mikel owns Mikels Steak House, a popular dining establishment just outside of town on a busy state highway. Mikel uses labor cost percentage as his productivity measure, but he has been calculating it only once per month. Since his monthly costs have been higher than he expected, Mikel has decided that he needs a daily measure of his labor cost percentage to better control his costs.

Mikel wants to keep his labor cost percentage at 37 percent. Given the results of his six-column daily productivity report for the first week of March, will he be able to achieve his labor cost percentage standard if he continues in the same manner for the remainder of the month? If not, what actions can he take to reduce both his fixed and variable labor-related expense?

Mikel owns Mikel's Steak House, a popular dining establishment just outside of town on a busy state highway. Mikel uses labor cost percentage as his productivity measure, but he has been calculating it only once per month. Since his monthly costs have been higher than he expected, Mikel has decided that he needs a daily measure of his labor cost percentage to better control his costs. a. Calculate Mikel's daily labor cost percentage using the six-column daily productivity report, which follows. Six-Column Labor Cost Percentage Unit Name: Mikel's Steak House Date: 3/1 - 3/7 Labor Cost % Today To Date Weekday 1 2 3 Cost of Labor Today To Date $950 1,120 1,040 1,100 1,600 1,700 1,300 Sales Today To Date $2,520 2,610 2,720 2,780 3,530 4,100 3,910 4 5 6 7 Total Mikel wants to keep his labor cost percentage at 37 percent. Given the results of his six-column daily productivity report for the first week of March, will he be able to achieve his labor cost percentage standard he continues in the same manner for the remainder of the month? If not, what actions can he take to reduce both his fixed and variable labor-related expense