For each of the following, determine cost of employees meals: a. In the Meal Mall, employees were
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a. In the Meal Mall, employees were served 337 lunches and 381 din- ners in March. Food cost is credited $0.70 per meal for lunch and $1.10 per meal for dinner.
b. In Monty’s Restaurant, employees are required to record their food selections on checks and to enter the menu price next to each selection. The total sales value of employees’ meals in September was $7,826.95. In recent months, food cost percent has averaged 35 percent.
c. In Bartholomew’s Pub, the chef was directed to prepare food for the employees at a cost not to exceed $25.00 per day, regardless of the number of employees fed. In February, the restaurant was open six days per week, but closed on Mondays.
Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
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