Question
Niagara Bistro INCOME STATEMENT YEAR ENDED DECEMBER 31, 20XX SalesFood$1,177,012.20Beverage$488,460.00Total Sales$1,665,472.20Cost of SalesFood$411,954.27Beverage$107,461.20Total Cost of Sales$519,415.47Gross Profit$1,146,056.73Controllable ExpensesSalaries and Wages$412,402.64Employee Benefits$103,100.66Other Controllable Expenses$281,830.00Total Controllable Expenses$797,333.30Income
Niagara BistroINCOME STATEMENTYEAR ENDED DECEMBER 31, 20XXSalesFood$1,177,012.20Beverage$488,460.00Total Sales$1,665,472.20Cost of SalesFood$411,954.27Beverage$107,461.20Total Cost of Sales$519,415.47Gross Profit$1,146,056.73Controllable ExpensesSalaries and Wages$412,402.64Employee Benefits$103,100.66Other Controllable Expenses$281,830.00Total Controllable Expenses$797,333.30Income Before Occupancy costs$348,723.43Interest, Depreciation, and Income TaxesOccupancy Costs$77,230.00Interest$25,600.00Depreciation$79,099.00Total$181,929.00Restaurant Profit$166,794.43
Using the above income statement, the Manager of the Niagara Bistro calculates his fixed costs to be $669,960.32
Based upon this, compute the following information, and fill in the blanks for each question below.When calculatingbreakevendollars for the Bistro use four (4) decimal places when using the B/E formula.For example, if you are to use 39.54 %, as a decimal use .3954 in the formula.Do not enter $ signs, commas or % signs for your answers in this question.Simply enter numbers.
- Calculate the following:
Total Variable Costs $
Total Variable Cost % to two decimal places is%
Total Contribution Margin $
Total Contribution Margin % to 2 decimal places is%
- Break even cost in dollars for the Niagara Bistro is $
- Assuming that the average contribution margin per unit is $14.50, the number of customers that the Bistro needs to serve in order to break even is.Round your answer up.Do not use decimals.
- If the Bistro were to achieve a profit of $200,000.00, they need to achieve $in Sales Revenue.
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