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CD-ROM Exercise 2.2 Use the figures givenbelow to complete the statement of income for the Blackburn...

CD-ROM Exercise 2.2

Use the figures givenbelow to complete the statement of income for the Blackburn Tavern, calculate percentages for each catagory as illustrated in Figure 2.1

Food Sales  $723,556.00

Salariesand Wages  $228,456.00

Beverage Sales  $224,945.00

Other Controllable  $145,532.00

Beverage Cost  $ 57,534.00

Employee Benefits  $  14,667.00

Food Cost  $265,998.00

Occupancy Costs  $ 44,860.00

Depreciation Expense  $ 74,856.00

Interest  $  21,790.00
Exercise 2.2
Blackburn Tavern
INCOME STATEMENT Percent of Sales
YEAR ENDED DECEMBER 31, 20XX
Sales
Food $ %
Beverage %
Total Sales $                   -    %
Cost of Sales
Food $ %
Beverage %
Total Cost of Sales $                   -    %
Gross Profit $                   -    %
Controllable Expenses
Salaries and Wages $ %
Employee Benefits %
Other Controllable Expenses %
Total Controllable Expenses $                   -    %
Income Before Occupancy costs $                   -    %
Interest, Depreciation, and Income Taxes
Occupancy Costs $ %
Interest %
Depreciation %
Total $                   -    %
Restaurant Profit $                   -    %

Homework Answers

Answer #1
Sales Percent of sales
Food 723556 76.28%
Beverage 224945 23.72%
Total Sales 948501 100.00%
Cost of Sales :
Food 265998 28.04%
Beverage 57534 6.07%
Total Cost of Sales 323532 34.11%
Gross Profit 624969 65.89%
Controllable Expenses :
Salaries and Wages 228456 24.09%
Employee Benefits 14667 1.55%
Other Controllable Expenses 145532 15.34%
Total Controllable Expenses 388655 40.98%
Income Before Occupancy costs 236314 24.91%
Interest, Depreciation, and Income Taxes
Occupancy Costs 44860 4.73%
Interest 21790 2.30%
Depreciation 74856 7.89%
Total 141506 14.92%
Profit 94808 10.00%
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