In: Accounting
1)
Aday’s Restaurant has the following income statement:
Revenue: |
||
Food Sales |
$240,000 |
|
Beverage Sales |
$86,000 |
|
Total Sales |
$326,000 |
|
Cost of Sales: |
||
Food Costs |
$72,000 |
|
Beverage Costs |
$15,480 |
|
Total Costs |
$87,480 |
|
Gross Profit |
$238,520 |
|
Expenses: |
||
Operating |
$8,000 |
|
Labor |
$26,000 |
|
Miscellaneous |
$4,000 |
|
Administrative |
$14,000 |
|
Total Expenses |
$52,000 |
|
NET PROFIT |
$186,520 |
Calculate administrative expenses as a % of sales
Select one:
a. 3.00%
b.
10.00%
c.
1.23%
d.
4.29%
2)
Smitty’s Place recorded the following information from its lunch period on May 1:
SECTION | 1 | 2 | 3 | 4 | Total | |
Server | Susan | Dalia | Zoe | Carissa | 4 | |
Total number of Tables | 5 | 6 | 5 | 8 | 24 | |
Total Number of Seats | 18 | 22 | 16 | 26 | 82 | |
Number of Customers Served | 50 | 46 | 40 | 62 | 198 | |
Total Sales | $ 248.40 | $ 225.00 | $ 146.00 | $ 260.40 | $ 879.80 |
Using the information in the table above:
What is the average check?
Select one:
a. $18
b. $8
c. $6.92
d. $4.43
3)
Smitty’s Place recorded the following information from its lunch period on May 1:
SECTION | 1 | 2 | 3 | 4 | Total | |
Server | Susan | Dalia | Zoe | Carissa | 4 | |
Total number of Tables | 5 | 6 | 5 | 8 | 24 | |
Total Number of Seats | 18 | 22 | 16 | 26 | 82 | |
Number of Customers Served | 50 | 46 | 40 | 62 | 198 | |
Total Sales | $ 248.40 | $ 225.00 | $ 146.00 | $ 260.40 | $ 879.80 |
Using the information in the table above:
What is the average dollar sales per table?
Select one:
a. $18
b. $8
c. $4.43
d. $37.23
Solution :-
(1)
Given data are
Sales = $ 326,000
Administrative expenses = $ 14,000
So, administrative expenses as a % of sales = $ 14,000*100 / $ 326,000 = 4.29 %
Hence the option no ( d) with 4.29 % is the correct answer
(2) Given data are
Susan
No of customers served = 50
Total sales = $ 248.4
Average cheque = $ 248.4 / 50 = $ 4.968
Dalia
No of customers served = 46
Total sales = $ 225
Average cheque = $ 225 / 46 = $ 4.891
Zoe
No of customers served = 40
Total sales = $ 146
Average cheque = $ 146 / 40 = $3.65
Carissa
No of customers served = 62
Total sales = $ 260.4
Average cheque = $ 260.4 / 62 = $ 4.2
Hence average check for the whole = $ ( 4.968 + 4.891 + 3.65 + 4.2 ) / 4 = $ 4.43
Hence the option no (d) with $ 4.43 is the correct answer
(3) Given data are
Susan
Total No of tables = 5
Total sales = $ 248.4
Average dollar sales per table = $ 248.4 / 5 = $ 49.68
Dalia
Total No of tables = 6
Total sales = $ 225
Average dollar sales per table = $ 225 / 6 = $ 37.5
Zoe
Total No of tables = 5
Total sales = $ 146
Average dollar sales per table = $ 146 / 5 = $ 29.2
Carissa
Total No of tables = 8
Total sales = $ 260.4
Average dollar sales per table = $ 260.4 / 8 = $ 32.55
Hence average dollar sales per table for the whole = $ ( 49.68 + 37.5 + 29.2 + 32.55 ) / 4 = $ 37.23
Hence the option no (d) with $ 37.23 is the correct answer