Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please provide answer by also showing work in excel 1. Following the format illustrated in Figure 9.2, use the following information to determine food cost,

Please provide answer by also showing work in excel

image text in transcribed 1. Following the format illustrated in Figure 9.2, use the following information to determine food cost, food sales, and food cost percent today and to date for the Circle Dinner for the first four days of May. Date Directs Stores 1-May 2-May 3-May 4-May $350.00 $250.00 $135.00 $75.00 $350.00 $175.00 $125.00 $135.00 Adjustments Added to Subtracted cost from cost $25.00 $10.00 $10.00 $20.00 Total Cost Today To Date Total Sales Today $1,400.00 $1,000.00 $1,000.00 $500.00 To Date Food Cost % Today To Date 2. Following the format illustrated in 9.2, use the following information to determine food cost, food sales, and food cost percent today and to date for the Magic Inn for the period September 1-6. Date Directs Stores 1-Sep 2-Sep 3-Sep 4-Sep 5-Sep 6-Sep $400.00 $150.00 $350.00 $200.00 $450.00 $50.00 $500.00 $325.00 $550.00 $400.00 $450.00 $290.00 Adjustments Added to Subtracted cost from cost $50.00 $60.00 $40.00 $10.00 Total Cost Today To Date Total Sales Today $2,550.00 $1,500.00 $2,850.00 $2,850.00 $3,325.00 $1,300.00 To Date Food Cost % Today To Date 3. Following the format illustrated in Figure 9.7, use the following information to determine food cost, food sales, and food cost percent today and to date, as well as book inventory balances for Ravel's Restaurant for the period November 1-5. The opening inventory balance for November 1 is $9,330. 11/1: 11/2: 11/3: 11/4: 11/5: Purchases: directs, $403; stores, $736 Issues: $591 Sales:$2,241 Purchases: directs, $261; stores, $108 Issues: $465 Sales:$2,121 Purchases: directs, $273; stores, $1,463 Issues: $24 Adjustments: cooking liqueur from bar, $33; Food to bar from kitchen,$24 Sales:$2,740 Purchases: directs, $521; stores, $281 Issues: $944 Sales:$4,063 Purchases: directs, $334; stores, $372 Issues: $1221 Adjustments: cooking liqueur from bar, $19; Food to bar from kitchen, $29 Sales:$4682 Adjustments Date 1-Nov 2-Nov 3-Nov 4-Nov 5-Nov Directs Stores Added Subtracted to cost from cost Total Cost Today To Date Total Sales Today To Date Food Cost % Today To Date Inventory Balance Purchases Issues Balance 4. Use the following information to determine the book value of the stores inventory on the morning of May 6. Date Store Purchases Stores Issues 5/1 5/2 5/3 5/4 5/5 $742.38 $397.49 $619.66 $273.16 $824.93 $621.80 $516.76 $472.51 $845.26 $725.77 Inventory $11,353.40 5. In each of the following cases, determine the book value of the closing inventory for the month of October. a. Opening inventory: Purchases: Issues: $3,748.00 $22,162.00 $21,477.00 b. Issues: Purchases: Opening Inventory: $44,227.60 $42,191.40 $15,308.70 c. Purchases Opening Inventory: Issues: $10,601.58 $4,219.66 $9,862.43 a Opening Inventory Purchases Issues Book Value b c 6. For each of the following examples, use the information given to find the book value of the closing inventory and the dollar difference between book and actual inventory for the month. a. Opening inventory: Purchases: Issues: Actual value of closing inventory: b. Purchases: Issues: Opening Inventory: Actual value of closing inventory: c. Issues: Opening Inventory: Purchases: Actual value of closing inventory: $400.00 $1,200.00 $900.00 $600.00 $6,327.00 $6,498.00 $2,184.00 $1,912.00 $12,395.62 $4,129.88 $11,623.71 $2,673.47 a Opening Inventory Purchases Issues Book Value Actual Value Difference b c

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

Entrepreneurial Finance

Authors: Chris LeachJ LeachRonald Melicher

3rd Edition

0324561253, 9780324561258

Students also viewed these Finance questions