Revenues: Food and beverage Delivery service Total revenues Restaurant operating costs: Chipotle Mexican Grill, Inc. Operating Income For the Years Ended December 31 (in thousands) Year 2 Amount Year 2 Year 1 Percent Amount Year 1 Percent $7,457 100 % $5,921 100 % 90 % 64 % $7,547 100 % $5,985 100 % Food, beverage, packing $(2,309) % $(1,933) 906 % Labor (1,918) 90 % (1,593) % Occupancy (rent) (416) % (388) % % Marketing, utilities, other (1,197) % (1,030) General and administrative (607) % (466) % Depreciation (255) % (238) % % Miscellaneous expenses (40) % (47) % Total operating expenses $(6,742) $(5,695) % % % $290 $805 Operating income h. Based on the calculations above, which of the following statements are correct? Analyze Chipotle Mexican Grill Chipotle Mexican Grill, Inc. (CMG) is a quick-service restaurant providing a focused menu of burritos, tacos, and salads. Chipotle's operating income taken from its income statements for two recent years is as follows (in thousands) Chipotle Mexican Grill, Inc. Operating Income For the Years Ended December 31 Revenues: (in thousands) Year 2 Year 1 Food and beverage $7,457 $5,921 Delivery service 90 64 Total revenues $7,547 $5,985 Restaurant operating costs: Food, beverage, packing $(2,309) $(1,933) Labor (1,918) (1,593) Occupancy (rent) (416) (388) Marketing, utilities, other (1,197) (1,030) General and administrative (607) (466) Depreciation (255) (238) Miscellaneous expenses (40) (47) Total operating expenses $(6,742) $(5,695) Operating income $805 $290 Required:
Revenues: Food and beverage Delivery service Total revenues Restaurant operating costs: Chipotle Mexican Grill, Inc. Operating Income For the Years Ended December 31 (in thousands) Year 2 Amount Year 2 Year 1 Percent Amount Year 1 Percent $7,457 100 % $5,921 100 % 90 % 64 % $7,547 100 % $5,985 100 % Food, beverage, packing $(2,309) % $(1,933) 906 % Labor (1,918) 90 % (1,593) % Occupancy (rent) (416) % (388) % % Marketing, utilities, other (1,197) % (1,030) General and administrative (607) % (466) % Depreciation (255) % (238) % % Miscellaneous expenses (40) % (47) % Total operating expenses $(6,742) $(5,695) % % % $290 $805 Operating income h. Based on the calculations above, which of the following statements are correct? Analyze Chipotle Mexican Grill Chipotle Mexican Grill, Inc. (CMG) is a quick-service restaurant providing a focused menu of burritos, tacos, and salads. Chipotle's operating income taken from its income statements for two recent years is as follows (in thousands) Chipotle Mexican Grill, Inc. Operating Income For the Years Ended December 31 Revenues: (in thousands) Year 2 Year 1 Food and beverage $7,457 $5,921 Delivery service 90 64 Total revenues $7,547 $5,985 Restaurant operating costs: Food, beverage, packing $(2,309) $(1,933) Labor (1,918) (1,593) Occupancy (rent) (416) (388) Marketing, utilities, other (1,197) (1,030) General and administrative (607) (466) Depreciation (255) (238) Miscellaneous expenses (40) (47) Total operating expenses $(6,742) $(5,695) Operating income $805 $290 Required:
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 4MAD: Analyze Chipotle Mexican Grill Chipotle Mexican Grill, Inc. (CMG) is a quick-service restaurant...
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Transcribed Image Text:Revenues:
Food and beverage
Delivery service
Total revenues
Restaurant operating costs:
Chipotle Mexican Grill, Inc.
Operating Income
For the Years Ended December 31
(in thousands)
Year 2
Amount
Year 2
Year 1
Percent
Amount
Year 1
Percent
$7,457
100 %
$5,921
100 %
90
%
64
%
$7,547
100 %
$5,985
100 %
Food, beverage, packing
$(2,309)
%
$(1,933)
906
%
Labor
(1,918)
90
%
(1,593)
%
Occupancy (rent)
(416)
%
(388)
%
%
Marketing, utilities, other
(1,197)
%
(1,030)
General and administrative
(607)
%
(466)
%
Depreciation
(255)
%
(238)
%
%
Miscellaneous expenses
(40)
%
(47)
%
Total operating expenses
$(6,742)
$(5,695)
%
%
%
$290
$805
Operating income
h. Based on the calculations above, which of the following statements are correct?
Transcribed Image Text:Analyze Chipotle Mexican Grill
Chipotle Mexican Grill, Inc. (CMG) is a quick-service restaurant providing a focused menu of burritos, tacos, and salads. Chipotle's operating income taken from its income statements for two recent years is as follows (in thousands)
Chipotle Mexican Grill, Inc.
Operating Income
For the Years Ended December 31
Revenues:
(in thousands)
Year 2
Year 1
Food and beverage
$7,457
$5,921
Delivery service
90
64
Total revenues
$7,547
$5,985
Restaurant operating costs:
Food, beverage, packing
$(2,309)
$(1,933)
Labor
(1,918)
(1,593)
Occupancy (rent)
(416)
(388)
Marketing, utilities, other
(1,197)
(1,030)
General and administrative
(607)
(466)
Depreciation
(255)
(238)
Miscellaneous expenses
(40)
(47)
Total operating expenses
$(6,742)
$(5,695)
Operating income
$805
$290
Required:
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