Please answer Problem 4

standard food costs? b. How much higher would beverage profits have been if actual beverage costs were in line with standard beverage costs? c. What is the total amount of profit lost because actual food and beverage costs were higher than the standard costs? Problem 4 Complete the following food and beverage potential savings worksheet: Food and Beverage Potential Savings Food Cost Beverage Cost Actual Actual Standard Potential Percent Difference Savings Cost Revenue Percent Standard Potential Percent Difference Savings 25.8% Month Cost Revenue Percent $80,100 $290,000 $180,015 38.7% $485,510 Jan. Feb. $61.700 38.7% $220,500 25.8% $159,850 $397,480 March $152,700 $381,000 38.7% $63,000 $200,400 25.8% $158,750 $382,750 38.7% $62,775 $193,200 25.8% April May $161,420 $390,770 38.7% $61,600 $195,400 25.8% What is the total amount of potential savings year-to-date in the food and beverage operation? Problem 5 a. Control procedures implemented during June have reduced the actual food cost per- centage by 0.5 percent and the actual beverage cost percentage by 1.8 percent from the May levels calculated in Problem 4. If actual revenues in June were as follows, calcu- late the actual costs. Data for June Aou1