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Please help! will rate! I would appreciate an easy-to-read answer and would also enjoy it if the formulas were provided! Carreras Caf is a Spanish
Please help! will rate! I would appreciate an easy-to-read answer and would also enjoy it if the formulas were provided!
Carreras Caf is a Spanish restaurant in a college town. The owner expects that the number of meals served in June will be 40 percent below those served in May, because so many students leave for the summer. In May, the restaurant served 4,400 meals at an average price of $20. In the summer (June through August), the average price of a meal typically increases by 30 percent and the average food cost of a meal increases by 20 percent. Other costs are typically unchanged during the summer. The following cost information is available for May. Service costs (variable with respect to meals) Variable service costs (with respect to meals) Food costs Labor $11,400 16,600 5,800 Other variable costs Fixed service costs 8,600 Total service costs $42,400 Marketing and administrative costs 5,900 Marketing (variable with respect to meals) Administrative (fixed) 4,900 $10,800 Total marketing and administrative costs Total costs $53,200 Required: Prepare a budgeted income statement for June. (Do not round intermediate calculations.) Required: Prepare a budgeted income statement for June. (Do not round intermediate calculations.) Carreras Caf Budgeted Income Statement For the month of June Sales revenue Service costs: Total service costs Marketing and Administrative Total marketing and administrative costs $ $ $ $ 0 0 0 0Step by Step Solution
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