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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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