Question pt 1

A department with three operating divisions reported the sales revenues for each of its division. Determine the percentage of sales revenue provided by each division Rooms division $1, 555, 632 Food service division 921.856 Beverage division 403.312 Total sales revenue $2, 880, 800 A food division had beginning inventory of $4.400, purchases of $8, 400 and ending inventory of $2, 880 for a given week of operations Determine the cost of goods available and cost of sales-food for the week. A food division reported cost of sales-food of $198.680. Employees' meals cost $1, 225, complimentary meals $142, and transfers in were received from the bar operation with a cost of $82. Determine the net cost of sales Assume that a food division reported sales revenue of $337, 218 and the bar-lounge reported sales revenue of $206, 682. Indirect costs of $52, 400 are to be allocated to each division on the basis of sales revenue. What is the allocated amount of indirect costs to the food division? What is the allocated amount of indirect costs to the beverage division Assume the following: beginning retained earnings was $125,000 and ending retained earnings was $150,000. Cash dividends were paid in the amount of $77,000. What was net income for the year? Prepare a food department income statement in proper format for Midlands Restaurant using the following information for the first quarter ended on March 31,0007 (other income received from leasing excess equipment for one month is not a part of normal operations): Sales Revenue: Grills room $183, 200 Coffee garden 82, 900 Banquets 294, 400 Net food costs 224, 200 Salaries and wages expense 176, 400 Employee meals expense 18, 200 supplies expense10, 300 Glass and tableware expense 4, 300 Laundry and linen expense 13, 500 License expense 2, 400 Printing expense 4, 900 Miscellaneous expense 8, 200 Other income 800