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A new restaurant has opened in the neighborhood serving gourmet, pizza, craft beer, and specialty desserts. Their sales for the opening week were as follows:
Food Sales: $15,000
Beverage Sales: $3,500
Total Sales: $18,500
(a) If the food cost is 25%, what was the actual cost of food sold? (pg. 166) Cost/Sales x 100
(b) If the beverage cost was 18%, what was the actual cost of beverages sold? (pg. 168) Cost/Sales x 100
(c) If labor costs equal 30%, what would labor cost dollars be? (pg. 168) Cost of labor/Total Sales x 100
(d) After totaling all costs for the opening week, how much profit did the restaurant make?
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