Complete the following questions and submit in the workshop assignment content area of our course page.Download this document and use it to answer the questions. Type in directly on this sheet. Name:Saurav Paudel Student Number:155448210 1.(4 Marks)Complete the following Income Statement to include the percentages.Note: Total Sales is the base (100%) Sales$$% Food Sales$485,10055% Beverage Sales$396,90045% Total Sales$882,000100% Cost of Sales Cost of Food Sold$184,33820.9% Cost of Beverages Sold$99,22511.25% Total Cost of Sales$283,56332.15% Gross Margin$598,43767.85% Operating Expenses Labour$326,34037% Rent$120,00013.605% Other fixed costs$47,4005.3741% Total Expenses$493,74055.98% Operating Income$104,69711.870% 2.(14 Marks)Complete the following. a)Using the previous Income Statement as a guide, complete the income statement on the following page assuming that total sales revenue willincrease. The percentage increase will be based on thefirst 3 numbers of your student number. For example if your student number is199 201 200, the percentage increase will be 19.9%. So based on that increase your new sales revenue would increase by$882,000 x 0.199 = $175,518.This means in this example Sales would be $882,000+$175,518 = $1,057,518. This would be set at 100% in the new income statement. Food sales and Beverage sales would increase in terms of dollars, but remain at the same percentage of total sales Cost of food and cost of beverages sold percentages will remain the same.The percentages will remain the same, but the dollar amounts will increase due to the fact that sales would have increased Fixed costs will remain the same Payroll or Labour costs are considered variable, meaning they are based on total sales. Apply the labour cost percentage you calculated in question 1, to the total Sales in question 2 to calculate Total Labour expenses
Expert's Answer
Chat with our Experts
Want to contact us directly? No Problem. We are always here for you
Your future, our responsibilty submit your task on time.
Order NowGet Online
Assignment Help Services