Question
In: Finance
The Metro restaurant during fiscal year 2017 spent a total of $ 333,512.02 on food purchases...
The
Metro restaurant during fiscal year 2017 spent a total of $
333,512.02 on food purchases for its operation and obtained $
1,239,453.22 in total sales for the same period, of which $
987,398.32 were on food sales and $ 252,054.90 on beverage sales.
How much is the percentage of food cost ?:
Solutions
Expert Solution
Total spent on purchase =$ 333,512.02
Food Sales =$ 987,398.32, Beverage sales= $ 252,054,90
Distribution of spent on purchases in the ratio of sales
Cost of food = [$333,512.02/($987,398.32 + $252,054.90)]* $987,398.32 = $ 265,686.67
Therefore % of food cost = Food cost /Total cost
= ($265,686.67/$333,512.02)* 100 = 79.66% = 80%(approx)
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