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Use the following information to complete the worksheet below for the Pacific Restaurants Budget: Food...

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Question

Accounting

Use the following information to complete the worksheet below for the Pacific Restaurants Budget:

Food sales: $820,000

Beverage sales: $290,000

Cost of food: 36 percent of food sales

Cost of beverages: 24 percent of beverage sales

Variable salaries and wages: 20 percent of food sales

Fixed salaries and wages: $102,000

Employee benefit: 25 percent of total salaries and wages

Other controllable expenses: $95,000

Depreciation: $65,500

Interest: $55,000

Occupancy costs: $56,000

Answer Worksheet:

Pacific Restaurant

BUDGET

YEAR 20XX

Sales

Food

Beverage

Total Sales

Cost of Sales

Food

Beverage

Total Cost of Sales

Gross Profit

Controllable Expenses

Salaries and Wages

Employee Benefits

Other Controllable Expenses

Total Controllable Expenses

Income Before Occupancy costs,

Interest, Depreciation, and Income Taxes

Occupancy Costs

Interest

Depreciation

Total*

Restaurant Profit

*Note: Total means total forIncome before Occupancy costs,Interest, Depreciation, and Income Taxes

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