Question

Profit and Loss Worksheet - (Figure %’s to 2 decimal places)

Cost of sales

Open and use the chart below for the Cost of Sales Quiz. 7 questions A – G

Cost of sales ÷ sales = cost of sale %

Sales × cost of sale % = cost of sales

Cost of sales ÷ Cost % = Sales

Cost of food sales 256,820.32	Food Sales 802,562.50	Cost of Food % (A)
Cost of Beer Sales (B)	Beer Sales 32,505.00	Cost of Beer % 27.50 %
Cost of Wine Sales 12,465.00	Wine Sales (C)	Cost of Wine % 28.5 %
Cost of Liquor Sales 8,121.13	Liquor Sales 36,914.25	Cost of Liquor % (D)
Total Cost of Goods (ADD Food,beer,wine, and liquor costs) (E)	Total Sales (ADD food,beer,wine and liquor sales) (F)	Total Cost of Goods Sold % (figure Total cost of Goods) (G)

A.

B.

C.

D.

E.

F.

G.

Answer 1

Cost of food sales		Food sales		Cost of Food %
2,56,820.32		8,02,562.5		(A)
Cost of Beer sales		Beer sales		Cost of Beer %
(B)		32,505		27.50%
Cost of wine sales		Wine Sales		Cost of Wine %
12,465		( C )		28.50%
Cost of liquor sales		Liquor sales		Cost of Liquor %
8,121.13		36,914.25		(D)
Total cost of goods		Total Sales		Total cost of goods sold %
( E )		(F)		(G)

A: Cost of Food% = Cost of food sales/Food sales = 256820.32/802562.5 = 32.00%

B: Cost of Beer sales = Beer sales X Cost of Beer% = 32505X27.5% = 8,938.88

C: Wine sales = Cost of wine sales/Cost of Wine% = 12465/28.5% = 43,736.84

D: Cost of Liquor % = Cost of liquor sales/Liquor sales = 8121.13/36914.25 = 22.00%

E: Total cost of goods = cost of food + cost of beer + cost of wine + cost of liquor

= 256820.32 + 8938.88 + 12465 + 8121.13 = 286,345.33

F: Total sales = Food sales + beer sales + wine sales + liquor sales

= 802562.5 + 32505 + 43736.84 + 36914.25 = 915,718.59

G: Total cost of goods sold % = total cost of goods/total sales = 286,345.33/915,718.59 = 31.27%