Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer each questions in complete sentences and show all working to the problems. What was the percentage of Prime Cost of total Sales? Show

Please answer each questions in complete sentences and show all working to the problems.

  1. What was the percentage of Prime Cost of total Sales? Show your calculations and keep your answer to two decimal places.
  2. Did Monica achieve the goal that she was given to keep the Prime Cost below 63%? State why she did or did not achieve the goal?
  3. State one strategy that you would recommend to Monica to improve the performance of the restaurant. You can make assumptions.
image text in transcribed
Johnson Baynes Restaurant SALES Variance % 3,706,381 Food 3,706,381 4,353,936 X 100 = 85.127 85.18% Beverage 647,555 Total Sales 4,353,936 COST OF SALES 1,428,263 LABOR 348,615 Management 348,615 4,353,936 X 100 = 8.01% Staff 882,295 Employee Benefits 190,394 Total Labor 1,421,304 PRIME COST (Food and 2,849,567 Labor Costs)

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

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

Comprehensive Assurance & Systems Tool An Integrated Practice Set

Authors: Laura R Ingraham, J Greg Jenkins

3rd Edition

0133251969, 9780133251968

More Books

Students also viewed these Accounting questions

Question

Help me with python

Answered: 1 week ago

Question

1. What does this mean for me?

Answered: 1 week ago