In the Ocean View Restaurant, the actual food cost in July 2022 was $32,000, and the...
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In the Ocean View Restaurant, the actual food cost in July 2022 was $32,000, and the food sales were $128,000. The standard food cost percentage in July 2022 was 5.0% lower than the actual food cost percentage in that month. What were the potential savings in this restaurant in July 2022 in dollars and in %? Show the full calculation, not just the final answers, and round all calculations to hundredths of decimal unless they naturally round up to tenths or a whole number. In the Ocean View Restaurant, the actual food cost in July 2022 was $32,000, and the food sales were $128,000. The standard food cost percentage in July 2022 was 5.0% lower than the actual food cost percentage in that month. What were the potential savings in this restaurant in July 2022 in dollars and in %? Show the full calculation, not just the final answers, and round all calculations to hundredths of decimal unless they naturally round up to tenths or a whole number.
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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