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Question: A financial feasibility study is being carried out for a proposed new 120- seat restaurant. It will be open for both lunch and dinner from Monday through Saturday and for dinner only on Sunday. For the sake of simplicity, assume a 52-week year. Seat turnover and average food check figures are estimated as follows:
In addition, the restaurant has a small banquet room, and food sales revenue in this area is estimated at $14,000 a month. Alcoholic beverage revenue is estimated to be 12% of lunch food sales revenue and 30% of all food sales revenue. In the banquet room, alcoholic beverage revenue is forecast to be 40% of food sales revenue in that area. Food cost is estimated at 40% of total food sales revenue, and beverage cost is 28% of total beverage sales revenue. Wage cost for salaried personnel (manager, chef, hostess, head server, and cashier) is estimated at $300,000 per year. Wages for all other employees will be 15% of total annual restaurant sales revenue. Employee benefits (vacations, meals, etc.) are estimated to be 10% of total annual wages. Other operating costs are estimated at 12% of total annual wages and salaries. Undistributed costs are forecast to be $130,000 per year. Prepare the restaurant's pro forma income statement for the first year. Ignore income tax.
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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