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George Street Deli's owner is disturbed by the poor profit performance of his gelato bar. He has prepared the following profit analysis:
Sales $135 000
Less Cost of food 60 000
Gross margin $ 75000
Less Operating expenses:
Wages of counter staff $36 000 Paper products (e.g. serviettes) 12 000
Utilities (allocated) 8 700
Depreciation of counter equipment and furnishings 7 500
Depreciation of building (allocated) 12 000
Deli manager's salary (allocated) 9 000
Total expenses 85 200
Loss on gelato bar $ (10 200)
Required:
Question 1. Evaluate the above analysis that has been prepared by the manager.
Question 2. Provide a correct analysis and assess whether or not the gelato bar should be continued.
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