Assignment
The Food and Beverage department at the Fox Hills Country Club is an important part of the Club's overall profit structure. February food sales were $310,450 and beverage sales were $49,875. Because they represent such significant costs, Frankie Watson, the Club's Food and Beverage Director, keeps a careful watch on her food and beverage cost percentages. Using the following information for February that Frankie has recorded, help her calculate the answers to the questions that follow.
Given:
|
Beginning Food Inventory
|
$ 5,410
|
|
Food Purchases
|
$72,385
|
|
Ending Inventory
|
$ 5,772
|
|
Transfers "Out of Kitchen"
|
$ 922
|
|
Transfers "Into Kitchen"
|
$ 1,346
|
|
Employee Meals
|
$ 1,622
|
Calculate the following:
|
Beginning Inventory
|
|
Purchases
|
|
Food Available for Sale
|
|
Ending Inventory
|
|
Cost of Food Consumed
|
|
Transfers Out
|
|
Transfers In
|
|
Employee Meals
|
|
Cost of Food Sold
|
|
Food Sales
|
|
Food Cost %
|
Given:
|
Beginning Beverage Inventory
|
$ 1,099
|
|
Beverage Purchases
|
$12,588
|
|
Ending Beverage Inventory
|
$ 1,244
|
|
Transfers "Out of Bar"
|
$ 1,346
|
|
Transfers "Into Bar"
|
$ 922
|
a. What was the amount of Frankie's Cost of Food Consumed in the month of February?
b. What was the amount of Frankie's Cost of Food Sold in the month of February?
c. What was Frankie's Food Cost % in the month of February?
d. What was the amount of Frankie's Cost of Beverage Sold in the month of February?
e. What was Frankie's Beverage Cost % in the month of February?