Solution-What was the amount of frankies cost of food

What was the amount of frankies cost of food consumed

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Assignment

The Food and Beverage department at the Fox Hills Country Club is an important part of the Club's overall profit structure. February food sales were $310,450 and beverage sales were $49,875. Because they represent such significant costs, Frankie Watson, the Club's Food and Beverage Director, keeps a careful watch on her food and beverage cost percentages. Using the following information for February that Frankie has recorded, help her calculate the answers to the questions that follow.

Given:

Beginning Food Inventory	$ 5,410
Food Purchases	$72,385
Ending Inventory	$ 5,772
Transfers "Out of Kitchen"	$ 922
Transfers "Into Kitchen"	$ 1,346
Employee Meals	$ 1,622

Calculate the following:

Beginning Inventory

Purchases

Food Available for Sale

Ending Inventory

Cost of Food Consumed

Transfers Out

Transfers In

Employee Meals

Cost of Food Sold

Food Sales

Food Cost %

Given:

Beginning Beverage Inventory	$ 1,099
Beverage Purchases	$12,588
Ending Beverage Inventory	$ 1,244
Transfers "Out of Bar"	$ 1,346
Transfers "Into Bar"	$ 922

a. What was the amount of Frankie's Cost of Food Consumed in the month of February?
b. What was the amount of Frankie's Cost of Food Sold in the month of February?
c. What was Frankie's Food Cost % in the month of February?
d. What was the amount of Frankie's Cost of Beverage Sold in the month of February?
e. What was Frankie's Beverage Cost % in the month of February?

Reference no: EM131820589

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What was the amount of frankies cost of food consumed

Reference no: EM131820589

Reference no: EM131820589

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