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1. Sarah Michaels wants to evaluate her operation's efficiency by calculating the number of labor...

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Accounting

1. Sarah Michaels wants to evaluate her operation's efficiency by calculating the number of labor minutes per meal. Data from the previous week indicate that she served 7,500 meals. Her timecards indicated that employees worked a total of 625 hours for the week. What were labor minutes per meal for Sarah's operation?

2. Jim had a beginning inventory of $5,500. During the month of April he purchased $4,000 of food and had an ending inventory of $3,800 at the end of the month. His sales for April were $8,750.

  • What was his inventory turnover?
  • What was the food cost percent for April?

3. A reuben sandwich has a food cost of $0.75 and is sold for $2.25. What is the food cost percent of this item? (Remember, think of this as a percentage, enter the number but not the % symbol.)

4. This month Kelly's Kettle Corn had a November 1 inventory worth $3,742.18. They purchased $2,984 worth of new product in November and had $4,456.25 worth of inventory at the end of the month. What is the inventory turnover for this operation?

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