Question

In: Accounting

Given the information below find gross profit percentage for the month of June ( do not...

Given the information below find gross profit percentage for the month of June ( do not include % sign)

Guest Hotel Inc.

Income Statement

for the period ending June 30, 2019

Sales

Food 212,323

Beverage 77,776

Total Sales -

Cost of Sales

Food 73,046

Beverage 27,691

Total cost of goods sold -

Gross Profit -

Controllable Expenses

Salaries & Wages 113,286

Occupancy 35,130

Office & General 12,778

Utilities 10,441

Transportation 5,250

Kitchen supplies 5,746

Professional fees 6,300

Advertising 10,215

Insurance 12,178

Vehicle 6,699

Total Controllable Expenses -

Net Profit / Loss -

Your Answer:

Expert Solution

Statement of Income for the year period ending june 30 2019

Sales	AMT	AMT
Food	212323
Beverage	77776
Total Sales	290099	290099
Cost of sales
Food	73046
Beverage	27691
Total cost of goods sold	100737	100737
Gross Profit		189362
Controllable Expenses
Salaries and Wages	113286
Occupancy	35130
Office and General	12778
Utilities	10441
Transportation	5250
Kitchen Supplies	5746
Professional Fees	6300
Advertising	10215
Insurance	12178
Vehicle	6699
Total controllable expenses	218023	218023
Net loss		28661

Gross profit percentage = total revenue - cost of goods sold / total revenue * 100

= 290099 - 100737 / 290099 * 100

= 65.27

ekkarill92 answered 2 years ago

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