Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nithik's Kitchen is a family-owned restaurant in Sydney that has been operating successfully for over 7 years Thev have a set menu limited to 5

Nithik's Kitchen is a family-owned restaurant in Sydney that has been operating successfully for over 7 years

Thev have a set menu limited to 5 meals. Details of normal operations are provided below

Revenue

Weekends: average 200 customers per day.

Weekdays: average 80 customers per day.

Average customer-order revenue: $50. The restaurant is open for 350 days/year (100 weekend days and 250

weekdays).

Wages Expenses

3 Full Time chefs - $75,000 annual salary per chef

Weekends/per day (100 days) - paid per worked shift

6 waiters - $12.50hr - each work 1 8hr shift per day

Weekdays/per day (250 days) - paid per worked shift

4 waiters - $12.50hr - each work 1 8hr shift per day

Other expenses

Food licensing - $20,000 per annum

Third party liability insurance - $15,000

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

Payroll Accounting 2020

Authors: Bernard J. Bieg, Judith A. Toland

30th edition

357117174, 978-0357117170

More Books

Students also viewed these Accounting questions

Question

Distinguish between apperception and perception.

Answered: 1 week ago

Question

Be relaxed at the hips

Answered: 1 week ago