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