Problem - Gene's Diner has the following information for October, when several new employees were added to the wait staff:
Sales Revenue $180,000
Cost of food served 60,000
Employee wages and salaries 45,000
Manager Salaries 18,000
Building costs (rent, utilities, etc.)27,000
5% of this cost was for food that was not used by the experation date and 10% was for food that was incorrectly prepared.
15%of this cost was for time spent by cooks to reprepare orders.
20% of this cost was time taken to address customer complaints.
80% of the building was used
A. Using traditional income statement format prepare value income statement.
B. What value would there be to Gene from preparing the same information for November?