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Total sales $120,000 Food & Beverage $24,000 Total expenses $39,900 Cost of Food and Beverage based on total sale (total sale * percentage = cost

Total sales $120,000

Food & Beverage $24,000

Total expenses $39,900

Cost of Food and Beverage based on total sale (total sale * percentage = cost of food and beverage)

What percentage of Cost of Food and Beverage is needed to increase the Battle of the Chefs event's net profit by 10%? (Hint: Create a formula to calculate the 10% increase, then use Goal Seek.)

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