A) appropriation <span>is money set aside by formal action for a specific use. appropriation casework bill constituent</span>
Answer:
The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.
Explanation:
The sale of goods on credit will affect the Cost of sales and the Sales Revenue. The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.
The Manufacturing Overhead for the year was $18,000 overallocated.
Explanation:
- Lakeside, Inc. estimated manufacturing overhead costs for the year at $ 375 comma 000, based on 180 comma 000 estimated direct labor hours. Actual direct labor hours for the year totaled 191 comma 000. The manufacturing overhead account contains debit entries totaling $ 391 comma 000.
- The Manufacturing Overhead for the year was $18,000
- there are basically two types of business overhead which are administrative overheads and the manufacturing overheads.
- Overhead expenses includes the following examples,
- the accounting fees,
- advertising, insurance,
- interest rates,
- legal fees,
- labor work,
- rent, repairing,
- supplies, taxes,
- telephone bills,
- travelling expenses, etc.
Answer:
Food cost ratio=0,275
Labor cost ratio= 0,25
Total Cost ratio=0,525
Contribution Margin (profit) for the food cost= 9500
Range for a good overall food cost for a restaurant operation=28% - 35%
Part 2:
beverage cost ratio=0.23
range for a good overall liquor cost= 18%-23%
Explanation:
Food cost ratio=Food Cost/Food Sales
=$5500.00/$20000.00=0,275
Labor Cost Ratio = Labor Cost/Food Sales
$5000.00/$20000.00=0,25
Total Cost ratio= ($5500.00+$5000.00)/$20000.00= 0,525
Contribution Margin (profit) for the food cost? Total Sales--Total Costs
=$20000-($5500.00+$5000.00)=9500
What is the range for a good overall food cost for a restaurant operation?
28 % to 35% range
Part 2:
Beverage cost ratio? Beverage Cost/Bar Sales = $1500.00/$6500.00
=0.23
Range for a good overall liquor cost? 18% to 23% range
