(Feb 21-27) ood Cost Severage Cost abor Cost Other Costs otal Costs ood Sales everage Sales otal Sales (Revenue) otal Profit Projected $6,971 $3,954 $8,423 $7,645 $26,993 $18,565 $12,872 $31,437 $4,444 ased on the actual results, what adjustments eed to be made to Food and Beverage sales rojections for next week? O C. a. Projections for next week should be set the same as this week, so we can strive to reach our goals. Ob. Projections for next week should be increased to make up the difference from this week Actual $7,842 $4, 156 $9,541 $7,645 $29, 184 $14,326 $10,852 $25,178 -$4,006 Because this week's actual profit (-$4006) came in below our projected profit ($4444), we should reduce next week's Food and Beverage sales projections. O d. Projections for next week should be increased because we exceeded our projections this week

chapter 3  3. Given the information below, what is the profit dollars?  Round your answer to the dollar and add a dollar sign and comma separator  (i.e. $15,467) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140

What is the gross profit margin percentage?

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2022 Food Sales Beverage Sales Total Sales Food Cost Beverage Cost Total Cost of Sales Gross Profit Operating Expenses Salaries Wages Employee Benefits Overhead Costs Total Operating Expenses Income Before Taxes $ O a. $223,397 O b. $203,385 O c. $296,192 O d. $210,752 780,000 644,000 1,424,000 100.0 249,600 148,120 397,720 1,026,280 % 185,700 210,752 110,800 426,000 933,252 93,028 The above pro forma projected income statement was partially completed for a restaurant that should open in 2023. Management would like to see what profitability would be if they could predict a 6.0% increase in total sales. Assume Wages will be treated as a variable cost. What will be the total amount (dollars) of Wages on the new income statement with the 6.0% increase in Total Sales?

chapter 3  4. Given the information below, what is the profit percent?  Round your answer to two decimal places and add a percent sign (i.e. 15.37%)   Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140

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The following information is available for Concord Company: Sales Total fixed expenses Cost of goods sold Total variable expenses $301000 $51600 103200 86000 What amount would you find on Concord's CVP income statement? General 41:18 O gross profit of $197800 • contribution margin of $163400 O contribution margin of $215000 O gross profit of $163400

Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $50.00 Direct labor 30.00 Factory overhead $350,000 6.00 Selling expenses: Sales salaries and commissions 340,000 4.00 Advertising 116,000 Travel 4,000 Miscellaneous selling expense 2,300 1.00 Administrative expenses: Office and officers' salaries 325,000 Supplies 6,000 4.00 Miscellaneous administrative expense 8,700 1.00 Total $1,152,000 $96.00 It is expected that 12,000 units will be sold at a price…

Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales S687,000 $922,500 COGS ? 478,500 654,000 Gross profit 324.100 456.000| Operating expense 299,500 354,200 Operating income ? ? 94.500 30. $ sold For case 1, determine cost of goods 31. $ For case 1, determine operating income (include “-“ if needed) 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income “_“ if needed) 34. $ For case 3, determine net sales 35. $ For case 3, determine operating expense