I need help in this homework please

Complete problem P8.1 and P8.2

The attached workbook should assist you in completing your

work: Assignment9Workbook.xlsx

P8.1 A restaurant with an average check of $14 per guest has the following average monthly figures: Sales revenue $700,000 Variable costs 434.000 Fixed costs 168.000 a. What is breakeven sales revenue? b. If actual sales revenue was $640,000, what would the restaurants op- erating income be? C. If actual sales revenue was $640,000, how many fewer customers per month would be served than at the forecasted sales revenue level of $700,000? The average check remains at $14. P8.2 A small inn has annual fixed costs of $88,000, variable costs of 68% of sales revenue, and a tax rate of 30%. The owner wants an after-tax net income of $33,600. What sales revenue must be achieved to provide $33,600 net income after tax? Prepare a contribution margin income state- ment to confirm the calculated required sales revenue. P8.2 Fixed Costs Variable Cost Tax Rate Desired Net Income $88,000 68% 30% $33,600 Desired Income Before Tax: $48,000 Sales Revenue = [Fixed Costs + Desired Income Before Tax]/(1-VC%) Sales Revenue: $425,000 Contribution Margin Income Statement Sales revenue $425.000 Variable costs $289.000 Contribution Marg $136.000 Less: Fixed costs $88.000 Operating income $48,000 Tax $14,400 Net Income $33.600 P8.1 Average Check Sales Revenue Variable Costs Fixed Costs $14 $700,000 $434,000 $168,000 A. Breakeven Sales Revenue Fixed Costs/(1-(VC/SR)] Breakeven: $442,105 B. Operating Income New Sales Revenue Variable Cost: Fixed Cost: Operating Income $640,000 $396,800 Hint: Should be --> Variable Cost % times New Sales $168,000 $75,200 C. Fewer Customers Revenue Average Check Total Customers $700,000 $14 50,000 Revenue Average Check Total Customers $640,000 $14 45,714 Change -4,286 P8.2 Fixed Costs Variable Cost $88,000 68%