Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the figures given below to complete the statement of income for the Sunshine Restaurant Figures: Food Sales $475,000 Salaries and Wages $190,000 Beverage Sales
Use the figures given below to complete the statement of income for the Sunshine Restaurant
Figures:
Food Sales $475,000
Salaries and Wages $190,000
Beverage Sales $150,000
Other Controllable expenses $70,000
Beverage Cost $30,000
Employee Benefits $35,000
Food Cost $127,500
Occupancy Costs $75,000
Interest expense 15,000
Depreciation Expense $25,000
INCOME STATEMENT | |||||
YEAR ENDED DECEMBER 31, 20XX | |||||
Sales | |||||
Food | |||||
Beverage | |||||
Total Sales | $ - | ||||
Cost of Sales | |||||
Food | |||||
Beverage | |||||
Total Cost of Sales | $ - | ||||
Gross Profit | $ - | ||||
Controllable Expenses | |||||
Salaries and Wages | |||||
Employee Benefits | |||||
Other Controllable Expenses | |||||
Total Controllable Expenses | $ - | ||||
Income Before Occupancy costs | $ - | ||||
Interest, Depreciation, and Income Taxes | |||||
Occupancy Costs | |||||
Interest | |||||
Depreciation | |||||
Total Occupancy Costs | $ - | ||||
Restaurant Profit | $ - |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started