PLEASE SOLVE THIS QUESTION IN AN EXCEL SHEET ?
1 a. Given that food sales are$450,000 for the year and beverages sales are 80,000,prepare a statement of income forMavericks Restaurant using the expenses below. (Use Figure 1.1 onpg 5 as a guide). Hint: Remember “controllablefixed” costs fall under Other Controllable Expenses. (roundto two decimal points)
Administrative Expenses $4,000
Employee Benefits $27,550
Cost of food sold $140,000
Salaries and wages $120,000
Utilities $26,000
Depreciation on equipment $14,100
Cost of beverages sold $16,230
Interest expense $3,100
Occupancy costs $33,200
Advertising $5,000
b. Based on the figures above, calculate:
Prime cost percent
Overhead cost percent
Profit percent
(Remember to ensure they equal up to 100%)
Labor cost percent
Food cost percent
