Worksheet calculation questions:

4. What is the initial budgeted profit (before tax) being planned by the Good Food Restaurant for the current year, given the following information? (Round all calculations to hundredth if necessary (.00). This question is worth 7 points.

Revenue (food)$975,000

Revenue (beverage) $135,000

Food cost = 31% of food revenue

Beverage cost = 22% of beverage revenue

Labor cost (payroll) = 34% of total revenue

Employee benefits = 18% of labor cost (payroll)

Other operating expenses = 14% of total revenue

All fixed costs = 8% of total revenue

Answer Worksheet

Revenue

Food$

Beverage $

Total$

Food cost$

Beverage cost$

Total cost of goods sold$

Operating expenses

Payroll $

Benefits $

Other operating expenses$

Total operating expenses$ (this line sums up

all operating costs,

starting with the payroll cost)

Total fixed costs $

Total costs$ (this line sums up all the costs

(food and beverage,

operatingexpenses

and fixed costs

Profit (before taxes)$