chapter 10, Question 4 Singobjile runs a restaurant in an East Coast city that specializes in African-American cuisine. She has compiled her sales and cost data from a budget for this year. She has projected the following increases for this year Projected Increases Meals served 3% Selling price per meal 2% Cost of food 5% last year, and she wants to develop Cost of labor 10% Other expenses 2% Using this information, help Sinqobile complete her budget Last Year Budget Meals served Selling price per meal 122,000 $12.50 Last year's food cost per meal: Last year's food cost per meal Estimated increase Estimated cost of food this year: Last year's labor cost per meal: Last year's labor cost per meal + Estimated increase Estimated cost of labor this year: Last Year $ Last Year % Budget $ Budget % $1,525,000.00 $610,000.00 $488,000.00 $245,760.00 $1,343,760.00 $181,240.00 Revenue Cost of food Cost of labor Other expenses Total expenses Profit The owner of the restaurant has requested that Sinqobile make at least a 10 percent profit for this year Based on her budget figures, is she likely to meet this goal? If not, what can she do to achieve a 10 percent profit? nswer: pter 10