Download the Profit and Loss example associated w/ this module (3). Using the notes from this...
Download the Profit and Loss example associated w/ this module (3). Using the notes from this weeks class, complete the pro-forma Profit and Loss statement and upload to this link.
PROFIT AND LOSS STATEMENT
Given: Total Seats
100
Total turns 2
ASSUMPTIONS: Average check: $25 food and $10 beverage.
Food cost is 28% of food sales. Beverage cost is 19% of beverage sales, and labor is 29%.
Direct operating expenses are 28% and occupancy cost is 8%.
What are total
weekly
sales?
What is the SALES MIX as a percentage?
What is food cost as a dollar amount? Remember, you must find food sales first.
What is beverage cost as a dollar amount? Remember, you must find beverage sales first.
What is the cost of goods sold as a percentage?
What is the gross profit as a dollar amount?
What is the gross profit as a percentage?
What is labor cost as a dollar amount?
What are direct operating expenses in dollars?
What are occupancy costs in dollars?
What is the profit in dollars?
Homework Answers
What are total weekly sales? = 100 seats * Average check (25+10) * 7 days a week = $ 24,500
What is the SALES MIX as a percentage? Food = 25/35 = 71.4% Beverage = 10/35 = 28.6 %
What is food cost as a dollar amount? = 100*25*7*28% = $ 4900
What is beverage cost as a dollar amount? = 100*10*7*19% = $ 1330
What is the cost of goods sold as a percentage? = (4900+1330)/24500 = 25.4 %
What is the gross profit as a dollar amount> = 24500 - (4900+1330) = $ 18270
What is the gross profit as a percentage? = 18270/24500 = 74.6%
What is labor cost as a dollar amount? = 24500*29% = $ 7105
What are direct operating expenses in dollars? = 24500*28% = $ 6860
What are occupancy costs in dollars? = 24500*8% = $ 1960
What is the profit in dollars? = 18270 - 7105 - 6860 - 1960 = $ 2345
Add Answer to:
Download the Profit and Loss example associated w/ this module
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follow this example to complete the excercise
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