Total sales $120,000 Food & Beverage $24,000 Total expenses $84,000 Cost of Food and Beverage based...

Total sales $120,000

Food & Beverage $24,000

Total expenses $84,000

Cost of Food and Beverage based on total sale (total sale * percentage = cost of food and beverage)

What percentage of Cost of Food and Beverage is needed to increase the Battle of the Chefs event's net profit by 10%?

(Hint: Create a formula to calculate the 10% increase, then use Goal Seek.)

Expert Solution

Solution:

ercentage of Cost of Food and Beverage is needed = 17%

ekkarill92 answered 2 years ago

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