question archive Using the figures below calculate the following : 1
Using the figures below calculate the following : 1
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Using the figures below calculate the following : 1. Total Sales 2. Total Cost of Goods Sold 3. Income Before Occupancy Costs 4. Operating Income 5. Operating Income % Food Sales 180,964.00 $ Beverage Sales 55,200.00 Food Cost 82,337.00 Beverage Cost 22,344.00 Salaries & Wages 86,541.00 Employee Benefits 29,135.00 Other Controllable Expenses 65,330.00 Occupancy Costs 25,000.00 Interest 5,600.00 Deprecation 9,900.00
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1. Total Sales = 236,164
2. Total Cost of Goods Sold = 104,681
3. Income Before Occupancy Costs = -49,523
4. Operating Income = -90,023
5. Operating Income % = -38.11884961%%
Step-by-step explanation
Take note of the following formulas:
Total sales = Food sales + Beverage sales
Total cost of goods sold = Food cost + Beverage cost
Income before occupancy costs = Total sales - Total cost of goods sold - Controllable expenses
Operating income = Income before occupancy costs - Occupancy costs - Interest - Depreciation
Operating income % = Operating income / Total sales
The calculations are as follows:
|
Sales |
|||
|
Food |
$180,964.00 |
||
|
Beverage |
55,200.00 |
||
|
Total Sales |
$236,164.00 |
||
|
Less: Cost of Goods Sold |
|||
|
Food |
82,337.00 |
||
|
Beverage |
22,344.00 |
||
|
Total Cost of Goods Sold |
104,681.00 |
||
|
Gross Profit |
131,483.00 |
||
|
Controllable Expenses |
|||
|
Salaries and Wages |
86,541.00 |
||
|
Employee Benefits |
29,135.00 |
||
|
Other Controllable Expenses |
65,330.00 |
||
|
Total Controllable Expenses |
181,006.00 |
||
|
Income before Occupancy costs |
- 49,523.00 |
||
| Occupancy Costs |
25,000.00 |
||
|
Interest |
5,600.00 |
||
|
Depreciation |
9,900.00 |
||
|
Total |
40,500.00 |
||
|
Operating income (loss) |
-$90,023.00 | ||
The operating income % is = -90,023 / 236,164 = -0.3811884961, or -38.11884961%.
