"Practice Problems $114$ Determining the Monthly Food Cost and Food Cost Percentage"

In problems A through E$,$ find the cost of food sold and the monthly food cost percent. Calculate the monthly food cost percentage. For example, if the answer is $0\mathrm{.}29748,$ go to the fifth number to the right of the decimal and use that number to round off to the fourth number to the right of the decimal. Now the answer is $0\mathrm{.}2975.$ Next, convert $0\mathrm{.}2975$ to a percentage. Therefore, the final answer would be $29\mathrm{.}75$ percent.

A$.$ Food in Production $$5,025\mathrm{.}00$

Sales $$48,500\mathrm{.}00$

Inventory at Beginning of Month $$4,890\mathrm{.}00$

Purchases for the Month $$41,465\mathrm{.}00$

Final Inventory $$3,682\mathrm{.}00$

$161$ Cost of Food Sold $<---$ follow Excel protocall to add formula in the cell $"=($BI$+$P$)-($EI$+$FIP$)"$

$162$ Monthly Food Cost Percent

B$.$ Food in Production $$2,017\mathrm{.}25$

Sales $$76,585\mathrm{.}45$

Inventory at Beginning of Month $$8,296\mathrm{.}25$

Purchases for the Month $$18,440\mathrm{.}25$

Final Inventory $$4,635\mathrm{.}65$

$163$ Cost of Food Sold

$164$ Monthly Food Cost Percent

C$.$ Food in Production $$1,025\mathrm{.}00$

Sales $$39,760\mathrm{.}00$

Inventory at Beginning of Month $$1,495\mathrm{.}00$

Purchases for the Month $$12,025\mathrm{.}00$

Final Inventory $$675\mathrm{.}00$

$165$ Cost of Food Sold

$166$ Monthly Food Cost Percent

D$.$ Food in Production $$895\mathrm{.}00$

Sales $$125,545\mathrm{.}00$

Inventory at Beginning of Month $$6,264\mathrm{.}36$

Purchases for the Month $$28,418\mathrm{.}00$

Final Inventory $$3,268\mathrm{.}45$

$167$ Cost of Food Sold

$168$ Monthly Food Cost Percent

E$.$ Food in Production $$1,395\mathrm{.}00$

Sales $$66,342\mathrm{.}00$

Inventory at Beginning of Month $$4,615\mathrm{.}15$

Purchases for the Month $$22,728\mathrm{.}00$

Final Inventory $$3,785\mathrm{.}00$

$169$ Cost of Food Sold

$170$ Monthly Food Cost Percent