Question

	Category	Dollars		Percent
	Sales			100%
	Food Cost	$2,375		37%
	Labor Cost			29%
	Overhead			24%
	Profit			10%
	Category	Dollars		Percent
	Sales			100%
	Food Cost			31%
	Labor Cost	$17,322		34%
	Overhead			32%
	Profit			3%
	Category	Dollars		Percent
	Sales			100%
	Food Cost			40%
	Labor Cost			29%
	Overhead	$234		19%
	Profit			12%
	Category	Dollars		Percent
	Sales	$7,700		100%
	Food Cost			43%
	Labor Cost			32%
	Overhead			21%
	Profit			4%
				Using the figures provided below calculate the missing dollaramounts for each of the Simplified Profit and Loss Statements.

Answer 1

• All working forms part of the answer
• All requirements are completed in their sequential order, along with workings:

Requirement 1
A	Food Cost	$                                 2,375
B	% of Sale	37%
C = A/B	Amount of Sales	$                                 6,419
D = C x 100%	Sales	$                                 6,419
E = C x 37%	Food Cost	$                                 2,375
F = C x 29%	Labor Cost	$                                 1,862
G = C x 24%	Overhead	$                                 1,541
H = C x 10%	Profits	$                                     642
Requirement 2
A	Labor Cost	$                               17,322
B	% of Sale	34%
C = A/B	Amount of Sales	$                               50,947
D = C x 100%	Sales	$                               50,947
E = C x 31%	Food Cost	$                               15,794
F = C x 34%	Labor Cost	$                               17,322
G = C x 32%	Overhead	$                               16,303
H = C x 3%	Profits	$                                 1,528
Requirement 3
A	Overhead	$                                     234
B	% of Sale	19%
C = A/B	Amount of Sales	$                                 1,232
D = C x 100%	Sales	$                                 1,232
E = C x 40%	Food Cost	$                                     493
F = C x 29%	Labor Cost	$                                     357
G = C x 19%	Overhead	$                                     234
H = C x 12%	Profits	$                                     148
Requirement 4
A	Sales	$                                 7,700
B	% of Sale	100%
C = A/B	Amount of Sales	$                                 7,700
D = C x 100%	Sales	$                                 7,700
E = C x 43%	Food Cost	$                                 3,311
F = C x 32%	Labor Cost	$                                 2,464
G = C x 21%	Overhead	$                                 1,617
H = C x 4%	Profits	$                                     308