QUESTION 1 10 MARKS
	You have been provided with the following projections regarding the costs of a fast
	fast food restaurant for the next fiscal year:
		Desired after tax net income as a % of investment					15%
		Owners equity investment in the business					160,000
		Total fixed costs					117,500
		Food cost as a % of sales					34%
		Variable wage cost as a % of sales					26%
		Other variable costs as a % of sales					9%
		Seats in the restaurant					135
		Operational days opened (closed Christmas)					364
		Daily average seat turnover					2.9
	Required: (show all calculations and record your answer in the space provided)
	(A) Calculate the revenue required for this restaurant to cover all costs next
	year and achieve it's profit objectives.
	(B) Calculate the restaurant's average check required to reach it's profit
	objectives.
			Required Revenue
								5 marks
			Average check
								5 marks