Question

Maat! Poultry Seafood Produce Dn Produce Dry Storage Dairy' Bread Total 53,000 $650 5850 Beginning Inventory + Purchases = Goods available for sale $1,700 $20,700 $1,250 $10,500 $28.000 $5,400 59,000 (2) (3) 5450 $2,300 5220 53,000 $1,200 $15 (5) $20 (6) - Ending Inventory a bag of basial is used to make Infused water a bottle of chardonnay is used to make marinated chicken = Cost of goods consumed - Employee meals = Cost of goods sold (7) $1,000 (8) Please calculate cost of goods sold and food cost based on the information provided in the spreadsheet. (1) Total beginning inventory (2) Total purchases (3) Goods available for sale (4) Total ending inventory (5) Transfers (6) Transfers (7) Cost of goods consumed (8) Cost of goods sold (9) If total sales in this operation is $350,000 and food sales is $250,000, what is the food cost percentage?

Answer 1

Seafood Produce Total Meat/ Poultry $3,000 $28,800 $31,800 $450 $1,700 $20,700 $22,400 $2,300 $650 $5,400 $6,050 $230 Dry Storage $1,250 $10,500 $11,750 $3,800 Dairy/ Bread $850 $8,000 $8,850 $1,200 $7,450 $73,400 $80,850 $7,980 Beginning inventory + Purchase =Goods available for sale - Ending Inventory a bag of basial is used to make infused water A bottle of chardonnay is used to make marinated chicken = Cost of goods consumed -Employee meals = Cost of goods sold $15 $15 $200 $20 $72,905 $1,000 $71,905 1 Total beginning inventory 2 Total purchases 3 Goods available for sale 4 Total ending inventory 5 =+- Transfer 6 -+- Transfer 7 Cost of goods consumed 8 Food cost percentage $7,450 $73,400 $80,850 $7,980 $150 $20 $72,905 28.76% Food sales Food cost of goods sold Food cost percentage $250,000 $71,905 28.76%