In March, a restaurant achieved food sales of $750,000 and beverage sales of $150,000. The restaurant achieved
Question:
In March, a restaurant achieved food sales of $750,000 and beverage sales of $150,000. The restaurant achieved a 33.33% food cost and a 20% beverage cost. What was the restaurant’s gross profit margin?
a. 68.9%
b. 72.9%
c. 76.9%
d. 64.9%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Answered By
Junaid ahmed
I am an English language professor with years of experience In Teaching English Language and Literature. I like to help people in the various difficult matter.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting for the Hospitality Industry
ISBN: 978-1119386223
2nd edition
Authors: Lea R. Dopson, David K. Hayes
Question Posted:
Students also viewed these Business questions
-
This January, a restaurant achieved a food cost percentage of 28%. Last January the restaurant achieved a food cost percentage of 26%. What was the percentage change in the restaurants food cost...
-
Ricks English Hut (Ricks) is a restaurant located in North Myrtle Beach, South Carolina on a saltwater marsh, surrounded by stately oak trees. Ricks appetizers and entrees run the gamut, from tasty...
-
The following are narrative descriptions of sales systems and controls for these two different businesses. Avocet Inc. Avocet is a franchise fast food restaurant business. When customers order food,...
-
Lang Enterprises was started when it acquired $4,000 cash from creditors and $6,000 from owners. The company immediately purchased land that cost $9,000. Required a. Record the events under an...
-
Following the success of King Kong (33) RKO commissioned a sequel, Son of Kong, to be made and released a mere six month after King Kong's theatrical debut. According to Perry's article what was Son...
-
This year, PRS Corporation generated $300,000 income from the performance of consulting services for its clients. It sold two assets during the year, recognizing a $36,000 gain on the first sale and...
-
Explain whether principal is exchanged in (a) an interest rate swap and (b) a currency swap.
-
a. Janet is the risk manager of Daily News, a daily publication in a highly competitive market. She wants to be certain that the newspaper will continue to be published if the company's printing...
-
Wildhorse Manufacturing has equipment that cost $674000 and has accumulated depreciation of $292000. When the equipment has a fair value of $600000, it is exchanged for equipment with a fair value of...
-
Refer to the Icebergs for Kuwait case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises. (If this has not yet been...
-
In February, a restaurant had a beginning inventory of $85,000, made purchases of $235,000 and had an ending inventory of $70,000. Employee meal costs for the month were $12,000. Food revenue for the...
-
You have collected a tissue specimen that you would like to preserve by freeze drying. To ensure the integrity of the specimen, the temperature should not exceed 5.00C. The vapor pressure of ice at...
-
How does eBay offer value to its customers?
-
6. You have 3 but want 8. You can play a sequence of independent (unfavourable) games each of which has is p = 0.4 probability of winning. You can stake any amount k up to your current wealth on a...
-
Most managers today are finding ways of balancing a growing agenda of socially responsible activities with the drive to generate profits. Business people face ethical issues every day, and some of...
-
Define legitimacy, representation, accountability and transparency and explain the relationships among them. give examples of each and explain how each of them applies to, and why each of them is...
-
A reinforced concrete circular column is supported by a square isolated footing (reinforced concrete spread footing). Net allowable soil pressure: net qa = 130 kPa Column loads (unfactored): D=170...
-
How might you get involved with professional organizations in criminal justice to develop your ethical decision-making, management, and leadership skills? Which criminal justice organization's...
-
Under what circumstances would an organization consider producing a component in-house versus outsourcing it?
-
Decades after the event, Johnson & Johnson (J&J), the 130-year-old American multinational, is still praised for swiftly The company indicated that its response was based on the expectations set forth...
-
Herbst Co. issued $80,000,000 of five-year, 13% bonds with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of the bonds payable, using the...
-
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid...
-
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid...
-
Your division is considering two projects. Its WACC is 10%, and the projects' after-tax cash flows (in millions of dollars) would be as follows: Expected Cash Flows Time Project A Project B 0 ($30)...
-
A rock thrown with speed 1 2 . 0 m / s and launch angle 3 0 . 0 ( above the horizontal ) travels a horizontal distance of d = 1 7 . 5 m before hitting the ground. From what height was the rock...
-
describe what is a project charter and why is it important. Then, discuss how to initiate a new project with a new team, or using a new technology?
Study smarter with the SolutionInn App