Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with these questions they come from the world problems. Thank you. fix, 'I guests for the year totaled 20,000. Of the available

Need help with these questions they come from the world problems. Thank you.

image text in transcribed
fix, 'I " guests for the year totaled 20,000. Of the available rooms based on past ute the food cost %. Cost of sales: ? Total room sales were $450,000. [17-1SJ The Gibson Hotel is a 250-room facility with several profit centers. The hotel is open throughout the year, and generally about 2 percent of the rooms are being repaired or renovated at all times therefore, assume that they are unavailable for sale. During 2014, the hotel sold 77,800 rooms an'd experienCEd an average occu'pancy per mom Of 132 People. The accounting department has supplied you with the following information concerning the food department: Ending inventory = $35,000 Consumption by employees (free of Charge) = syrooo Cost of food sold = 312,000 Food cosr percentage = 40% Food inventory turnover = 10 times Determine the "following: 17. Beginning inventory of food aga. Good 53135sum" i'm'm: : 1261057: $83mn eqmty INBUXB: $934300 1 flLGOD Cost of Food Used Wan $ Employee Meals mon Costof Fund Sold . " samoa Grass Profit 1 173000 Opemfing Expenses. Payrull 55300 Payroll Taxes and Benefits 52900 Landry mun Supplies LSDD "WE!" 11511' ' lg zzflm Utilities 3300 airs WOO Total Operating Expenses SOME! Income Before Fixed Charges 7 , and [nm 123ch Fixed Charges fig! * Income Befone mme fixes 'ggu WT" Waned Net [umm ' --"'-'-""--""- Compute the following ratios: 19. Average food check cost percentage 20. Food 21. Labor cast percentage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions

Question

Are there professional development opportunities?

Answered: 1 week ago