Question $154$ pts

Last month a manager$$s operation generated $$200,000$ in food sales and $$50,000$ in beverage sales. The manager had a cost of sales for beverages of $$10,000.$ What was the manager$$s beverage cost percentage last month?

Group of answer choices

$2\%$

$40\%$

$4\%$

$20\%$

Flag question: Question $16$

Question $164$ pts

Last year an operation had sales of $$800,000$ and generated a Net income of $$88,000.$ What was the operation$$s profit margin last year?

Group of answer choices

$15\%$

$13\%$

$11\%$

$8\%$

Flag question: Question $17$

Question $174$ pts

Prime costs in a restaurant include its food, beverage and labor costs.

Group of answer choices

True

False

Flag question: Question $18$

Question $184$ pts

An operation$$s total revenue minus its cost of sales equals the operation$$s gross profit

Group of answer choices

True

False

Flag question: Question $19$

Question $194$ pts

An operation$$s return on sales $($ROS$)$ is also referred to as its profit margin

Group of answer choices

True

False

Flag question: Question $20$

Question $204$ pts

What is the formula managers use to calculate a sales variance percentage?

Group of answer choices

$($Last period sales $-$ This period sales$)$ x Last period sales $=$ Sales variance $\%$

$($Last period sales $-$ This period sales$)-$: Last period sales $=$ Sales variance $\%$

$($This period sales $-$ Last period sales$)$ x Last period sales $=$ Sales variance $\%$

$($This period sales $-$ Last period sales$)-$: Last period sales $=$ Sales variance $\%$

Flag question: Question $21$

Question $214$ pts

What is the primary purpose of a uniform system of accounts?

Group of answer choices

To ensure a business pays all of its applicable taxes

To minimize business expenses

To record business revenue

To present financial data in a manner that is useful and consistent

Flag question: Question $22$

Question $224$ pts

A job specification is a listing of the tasks that must be accomplished by employees hired to fill a particular position.

Group of answer choices

True

False

Flag question: Question $23$

Question $234$ pts

The total dollar amount of an operation$$s fixed expenses

Group of answer choices

only varies with changes in the number of guests served.

does not vary with changes in volume or changes in the number of guests served.

varies with changes in volume and changes in the number of guests served.

only varies with volume.

Flag question: Question $24$

Question $244$ pts

Which would be classified as an occupancy cost?

Group of answer choices

Utility costs

Cost of grounds maintenance

Cost of food

Interest on debts

Flag question: Question $25$

Question $254$ pts

A manager anticipates that $2,000$ guests will be served next week. The manager$$s operation serves $2\mathrm{.}5$ guests per labor dollar expended. What will be the manager$$s estimated cost of labor next week?

Group of answer choices

$$8,000$

$$500$

$$5,000$

$$800$