Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Practice Problems 12-4 Calculate Transfers and Cost Percentages Determine the answers from the following information and figure out the food and beverage cost percentages. Calculate

Practice Problems 12-4 Calculate Transfers and Cost Percentages" Determine the answers from the following information and figure out the food and beverage cost percentages. Calculate the food cost to four places to the right of the decimal. For example, if the answer is 0.29748, go to the fifth number to the right of the decimal and use that number to round off to the fourth number to the right of the decimal. Now the answer is 0.2975. Next, convert 0.2975 to a percentage. Calculate the food cost percent- age to two places to the right of the decimal. Therefore, the final answer would be 29.75 percent. The sales for January 15 in the ZZZZ Restaurant were $5,780 for the food service and $13,225 in the bar. The food cost was $1,792, and the bar cost was $2,453. The cost of the food that was sent from the kitchen to the bar was $525, and the cost of the alcoholic beverages that were sent from the bar to the kitchen was $63.50. Answers 63. Without calculating transfers, what is the food cost percentage? 63 64. Without calculating transfers, what is the beverage cost percentage? 64 65. What is the food cost

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

Financial Accounting An Integrated Statements Approach

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

2nd Edition

324312113, 978-0324312119

More Books

Students also viewed these Accounting questions