Sales data for Get Food Now's best-selling menu itemsNote: Seafood Supreme launched in AprilSales Revenue ($)Menu ItemAverage Price ($)Average Cost ($)Jan - MarApr - JunJul - SepOct - DecBeefy Burger11.004.6016,06030,030111,54024,750Fire Fries5.003.0024,30068,75034,65039,600Seafood Supreme16.007.6012,48017,76021,600Plece o' Pizza7.003.6017,43064,47028,77031,990Veggle Dream8.803.806,4247,21610,82424,552All menu items10.004.40123,156366,350348,794280,494Profit = Sales - CostsExpressed as a percentage of selling price, which of the best-selling menu items is the LEAST profitable to produce?

calculation of item least profitable to produce

Answered: Sales data for Get Food Now's…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute the sales and food costs for the volumes below from the following data:                                                           Menu Price    $12.00                                                           Food Cost            3.60                                             Covers               Sales               Food Cost                                                  1                                                  10                                                  50
Calculate the sales and food costs for the volumes below from the following data:                                     Menu Price     $12.00                                    Food Cost            3.60 Covers                         Sales                            Food Cost    1                               .                                   . 10                              .                                   . 50                              .                                   .
Meals served are $15,000, coffee $500, milk $300, soft drinks $700, beer $1,200, wine $800, mixed drinks $400. What is the amount of food sales? Compute the following schedule of food sales by each meal period. If necessary, show the percentages with one decimal position, properly rounded. Meals Served                                     Sales                                      Percent Breakfast 100 $425                                                   Lunch 250 $1175                                                    % Dinner 100 $1400                                                    %                 Total…
Pinoy Desserts Café Monthly Sales Report (December 2017) Total Profit Item Number of Items Sold Selling Price Turon Php 128,115 8,541 Php 15 Halo-halo Php 60,600 1,212 Php 50 Mais con Yelo Php 25 1,334 Php 33,350 Saba con Yelo 784 Php 25 Php 25 Sorbetes 968 Php 19,600 Php 24,200 Php 265,865 GRAND TOTAL 12,839 Interpretation of the data
Suppose a certain appliance store purchases the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total. (Round your answers to the nearest cent.) Quantity Unit Merchandise Unit List TradeDiscounts ExtendedTotal 150 ea. Blenders $49.95 20/15/15 $ 4330.67 400 ea. Toasters $37.88 20/10/10 $ 9818.50 18 doz. Coffee Mills $244.30 30/9/6 $ 12 doz. Juicers $480.00 25/10/5 $ Invoice subtotal $ Extra 5 1 2 % volume discount on total order − $ Invoice total $
Journalize the transactions in a merchandising business in general journal - purchase and sales. See the template below for general journal, purchase journal, and sales journal. (This is the correct template please be guided)Write your answer on a columnar sheet. On January 15, Aeron Trading purchased from Victoria Merchandising goods amounting to ₱30,000on term 50% down, balance 2/10, n/30. The next day, Aeron Trading issued a ₱2,000 debitmemorandum to Victoria Merchandising for the return of defective merchandise bought. On January20, Aeron Trading paid ₱10,000 as partial payment. Aeron Trading settled in full the outstandingaccount with Victoria Merchandising on January 25.1. Journalize the above transactions using periodic inventory system and generaljournal of:A. Aeron TradingB. Victoria Merchandising
Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 15 sets of dishes at a price of $800 per set to customer Emma Purcell. The cost per set is $520 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $800 per set on credit, at a cost to Dish Mart of $520 per set. Terms of the sale are 5/15, n/60, invoice date March 9. Mar. 13 Emma returns eight of the dish sets from the March 9 sale to Dish Mart for a full refund. Dish Mart returns the dish sets to inventory at their original cost of $520 per set. Mar. 14 Dish Mart sells 5 sets of dishes to Emma for $800 per set on credit, at a cost to Dish Mart of $520 per set. Terms of the sale are 5/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase, and 7 of the dish sets from the March 5 sale are missing a few…
Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 11 sets of dishes at a price of $600 per set to customer Emma Purcell. The cost per set is $470 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $550 per set on credit, at a cost to Dish Mart of $400 per set. Terms of the sale are 10/15, n/60, invoice date March 9. Mar. 13 Emma discovers 8 of the dish sets are damaged from the March 9 sale and returns them to Dish Mart for a full refund. Mar. 14 Dish Mart sells 8 sets of dishes to Emma for $570 per set on credit, at a cost to Dish Mart of $410 per set. Terms of the sale are 10/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase and 7 of the dish sets from the March 5 sale are missing a few dishes but keeps them since Dish Mart granted an allowance of…
Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 10 sets of dishes at a price of $900 per set to customer Emma Purcell. The cost per set is $585 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $900 per set on credit, at a cost to Dish Mart of $585 per set. Terms of the sale are 5/15, n/60, invoice date March 9. Mar. 13 Emma returns eight of the dish sets from the March 9 sale to Dish Mart for a full refund. Dish Mart returns the dish sets to inventory at their original cost of $585 per set. Mar. 14 Dish Mart sells 7 sets of dishes to Emma for $600 per set on credit, at a cost to Dish Mart of $390 per set. Terms of the sale are 5/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase, and 7 of the dish sets from the March 5 sale are missing a few…
Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 14 sets of dishes at a price of $900 per set to customer Emma Purcell. The cost per set is $450 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $850 per set on credit, at a cost to Dish Mart of $420 per set. Terms of the sale are 10/15, n/60, invoice date March 9. Mar. 13 Emma discovers 8 of the dish sets are damaged from the March 9 sale and returns them to Dish Mart for a full refund. Mar. 14 Dish Mart sells 7 sets of dishes to Emma for $870 per set on credit, at a cost to Dish Mart of $420 per set. Terms of the sale are 10/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase and 7 of the dish sets from the March 5 sale are missing a few dishes but keeps them since Dish Mart granted an allowance of…
Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 12 sets of dishes at a price of $600 per set to customer Emma Purcell. The cost per set is $500 to Dish Mart. Mar. 9 Dish Mart sold 20 sets of dishes to Emma for $550 per set on credit, at a cost to Dish Mart of $450 per set. Terms of the sale are 10/15, n/60, invoice date March 9. Mar. 13 Emma discovers 8 of the dish sets are damaged from the March 9 sale and returns them to Dish Mart for a full refund. Mar. 14 Dish Mart sells 8 sets of dishes to Emma for $570 per set on credit, at a cost to Dish Mart of $400 per set. Terms of the sale are 10/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase and 7 of the dish sets from the March 5 sale are missing a few dishes but keeps them since Dish Mart granted an allowance of…
Sub Station and Planet Sub reported the following selected financial data ($ in thousands). Sub Station’s business strategy is to sell the best-tasting sandwich with the highestquality ingredients. Planet Sub’s business strategy is to sell the lowest-cost sub on the planet. Sub Station Planet SubNet sales $ 108,249 $ 62,071Net income 25,922 3,492Total assets, beginning 75,183 38,599Total assets, ending 116,371 44,533Required:1. Calculate Sub Station’s return on assets, profit margin, and asset turnover ratio.2. Calculate Planet Sub’s return on assets, profit margin, and asset turnover ratio.3. Which company has the higher profit margin and which company has the higher asset turnover? Is this consistent with the primary business strategies of these two companies?

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