Question 154 pts Last month a managers operation generated $200,000 in food sales...

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Accounting

Question 154 pts
Last month a managers operation generated $200,000 in food sales and $50,000 in beverage sales. The manager had a cost of sales for beverages of $10,000. What was the managers beverage cost percentage last month?
Group of answer choices
2%
40%
4%
20%
Flag question: Question 16
Question 164 pts
Last year an operation had sales of $800,000 and generated a Net income of $88,000. What was the operations profit margin last year?
Group of answer choices
15%
13%
11%
8%
Flag question: Question 17
Question 174 pts
Prime costs in a restaurant include its food, beverage and labor costs.
Group of answer choices
True
False
Flag question: Question 18
Question 184 pts
An operations total revenue minus its cost of sales equals the operations gross profit
Group of answer choices
True
False
Flag question: Question 19
Question 194 pts
An operations return on sales (ROS) is also referred to as its profit margin
Group of answer choices
True
False
Flag question: Question 20
Question 204 pts
What is the formula managers use to calculate a sales variance percentage?
Group of answer choices
(Last period sales - This period sales) x Last period sales = Sales variance %
(Last period sales - This period sales)-: Last period sales = Sales variance %
(This period sales - Last period sales) x Last period sales = Sales variance %
(This period sales - Last period sales)-: Last period sales = Sales variance %
Flag question: Question 21
Question 214 pts
What is the primary purpose of a uniform system of accounts?
Group of answer choices
To ensure a business pays all of its applicable taxes
To minimize business expenses
To record business revenue
To present financial data in a manner that is useful and consistent
Flag question: Question 22
Question 224 pts
A job specification is a listing of the tasks that must be accomplished by employees hired to fill a particular position.
Group of answer choices
True
False
Flag question: Question 23
Question 234 pts
The total dollar amount of an operations fixed expenses
Group of answer choices
only varies with changes in the number of guests served.
does not vary with changes in volume or changes in the number of guests served.
varies with changes in volume and changes in the number of guests served.
only varies with volume.
Flag question: Question 24
Question 244 pts
Which would be classified as an occupancy cost?
Group of answer choices
Utility costs
Cost of grounds maintenance
Cost of food
Interest on debts
Flag question: Question 25
Question 254 pts
A manager anticipates that 2,000 guests will be served next week. The managers operation serves 2.5 guests per labor dollar expended. What will be the managers estimated cost of labor next week?
Group of answer choices
$8,000
$500
$5,000
$800

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