HTM 341 Name:

EX5-1: Cost of food issued, consumed, and sold

Use the information below to complete the two requirements.

1. Follow the format on the PowerPoint file to calculate the cost of food issued, cost of food consumed, cost of food sold. Do the same for beverage costs.
2. Calculate the following percentages: food cost %, beverage cost %, cost of sales %.

Food Beverage

Purchases $74,600 $11,400

Delivery charges 85 0

Beg. Inventory 7,800 3,100

Ending Inventory 8,200 3,200

Transfers In 75 15

Transfers Out 15 75

Employee meals 2,400

Grease sales 35

Sales 164,000 38,900

Meals for Chamber of Commerce (Misc. deduction) 55

Wine for Chamber of Commerce (Misc. deduction) 20