Reference no: EM133175747
1. Use the following data to answer the questions below about actual food and beverages costs for the Marina Bay Grill for July:
Ending Inventory (Food) $68,000
Ending Inventory (Beverage) $23,470
Food Purchases $350.000
Beverage Purchases $24,700
Beginning Inventory (Food) $72,000
Beginning Inventory (Beverage) $19,700
Transfers to Bar $3,870
Beverage Theft/Pilferage $510
Food Over-Portioning Expense $615
Transfers from Bar $4,100
Complementary Food $2,160
Complementary Beverages $890
Employee Meal Cost $11,225
Food Revenues $878,000
Beverage Revenues $116,500
What is the net cost of sales for food and beverage? Indicate dollar and percentage cost.