Expert Answer :HOS 324 Homework Problems

Solved by verified expert :HOS 324 Homework. Due Monday 5/4/15 2:40 PM CSTProblem 1- Phil’s Foodarama had the following COGS information for the month of March;Beginning Inventory- Food March 1 was $14,350Beginning inventory- Beverages March 1 was $8,780Food Purchases during March $35,988Beverage Purchases during March $12,850Ending Inventory- Food March 31 was $ 16,875Ending Inventory- Beverage March 31 was $8,540Food Sales in March $100,000 Beverage Sales in March $50,000CalculateFood Cost $ for March $_________Beverage Cost $ for March $_________Food Cost $ for March $_________Beverage Cost $ for March $_________Food Cost % March ____________%Beverage Cost % in March __________%Total COGS $ ____________Total COGS% ____________%Problem 2- Phil’s Foodarama had the following COGS information for the month of March;Beginning InventoryBeginning Inventory- Food March 1 was $18,255Beginning inventory- Bottled Beer March 1 was $1,950Beginning inventory- Draft Beer March 1 was $1,150Beginning inventory- Wine March 1 was $32,850Beginning inventory- Liquor March 1 was $10,860Beginning inventory- Non-Alcoholic Beverages March 1 was $2,560PurchasesFood Purchases during March $54,285Bottled Beer Purchases during March $8,560Draft Beer Purchases during March $2,582Wine Purchases during March $7,058Alcohol Purchases during March $9,985Non-Alcoholic Bev Purchases during March $2,224Ending InventoryEnding Inventory- Food March 31 was $ 18,555Ending Inventory- Bottled Beer March 31 was $7,825Ending Inventory- Draft Beer March 31 was $1,850Ending Inventory- Wine March 31 was $8,345Ending Inventory- Non-Alcoholic March 31 was $1,875SalesFood Sales in March $180,555Bottled Beer Sales in March $10,125Draft Beer Sales in March $8,750Wine Beer Sales in March $17,850Liquor Beer Sales in March $35,189Non-Alcoholic Beer Sales in March $12,058Problem 2 continued- CalculateTotal Food Cost $ for March $_________Total Food Cost % March ____________%Beverage- Bottled Beer Cost $ for March $_________Beverage- Draft Beer Cost $ for March $_________Beverage- Wine Cost $ for March $_________Beverage- Liquor Beer Cost $ for March $_________Beverage- Non-Alcoholic Bev Cost $ for March $_________Beverage- Bottled Beer Cost % for March $_________Beverage- Draft Beer Cost % for March $_________Beverage- Wine Cost % for March $_________Beverage- Liquor Beer Cost % for March $_________Beverage- Non-Alcoholic Bev Cost % for March $_________Total Beverage Cost % for March $_________Total Beverage Cost $ for March $_________Total Beverage Cost % in March __________%Total COGS $ ____________Total COGS% ____________%Theoretical COGS%- The Theoretical COGS% is based on what the COGS% “should be” based on your POS sales report and your standard recipes and costing. Based on your sales mix you have determined the Theoretical COGS%. Using this information fill in the missing information for each categoryTheoretical Theoretical Actual COGS$ COGSCOGS% COGS$ COGS$ Variance Variance %Food 28.75 % $________ $________ $________ _______%Bottled beer 25.00% $________ $________ $________ _______%Draft Beer 20.50% $________ $________ $________ _______%Wine 32.50% $________ $________ $________ _______%Liquor 21.50% $________ $________ $________ _______%N/A Beverage 23.80% $________ $________ $________ _______%The COGS$ Variance is found using this formula; Theoretical COGS$ – Actual COGS$The COGS Variance is found using this formula; COGS$ Variance / SalesProblem 3:Your restaurant purchases a bottle of Rugged Red Wine for $10 a bottle (a 750 ml bottle = 25.368 ounces).a. If you sell the bottle for $30 what is the COGS% ___________b. If you sell the bottle for $33 what is the COGS% ________c. If you use the Rugged Red for your Wine-by-the-glass program and pour 5 ounces per glass what is the COGS$ for each 5 ounce glass? ______$d. If you pour a 5-ounce pour and charge $7 for the glass what is your COGS% for one glass? ______%e. If you pour a 5-ounce pour and charge $7 for the glass what is your Contribution Margin for one glass? ______%f. If you use the Rugged Red for your Wine-by-the-glass program and pour 6 ounces per glass what is the COGS$ for each 6-ounce glass? ______$g. If you pour a 6-ounce pour and charge $8 for the glass what is your COGS% for one glass? ______%h. If you pour a 6-ounce pour and charge $8 for the glass what is your Contribution Margin for one glass? ______%Problem 4- You buy Phil’s Red Wine at $14 per bottle (750 ml)- You buy Phil’s White Wine at $10 per bottle (750 ml)- These are the only wines you sell.You need to calculate the Wine COGS for the week.Beginning Inventory of Phil’s Red 127 BottlesBeginning Inventory of Phil’s White 97 BottlesPurchases during WeekPhil’s Red 48 bottlesPhil’s White 36 bottlesEnding Inventory of Phil’s Red 74 BottlesEnding Inventory of Phil’s White 68 bottlesSalesBy-The-Glass 6 oz pour.By-The-Glass Red 150 glasses Price $14 per glassBy-The-Glass White 100 glasses Price $11 per glassBottlesRed Bottles 60 bottles Price $45 per bottleWhite Bottles 40 bottles Price $34 per bottleCalculate the Totals for the wine sales.Theoretical COGS$ _________ Theoretical COGS% __________Actual COGS$__________ Actual COGS % ______________Problem 5- Perpetual InventoryFill in the sheet below using the following information.T-Bone SteaksBeg. Inventory Received Sold End Inventory (Actual)Monday 22 144 30 134Tuesday 134 0 26 106Wednesday 106 0 28 77Thursday 77 144 44 174Friday 174 0 48 125Saturday 125 0 52 72Sunday 72 0 50 21I&S BeerBeg. Inventory Received Sold End Inventory (Actual)Monday 285 0 55 228Tuesday 228 0 62 165Wednesday 165 240 68 335Thursday 335 0 82 251Friday 251 240 150 338Saturday 338 0 125 210Sunday 210 0 85 120Hamburger PattiesBeg. Inventory Received Sold End Inventory (Actual)Monday 684 400 145 935Tuesday 935 0 155 774Wednesday 774 0 178 592Thursday 592 0 224 365Friday 365 700 274 786Saturday 786 0 304 478Sunday 478 0 225 250LobstersBeg. Inventory Received Sold End Inventory (Actual)Monday 42 25 8 59Tuesday 59 0 9 50Wednesday 50 0 10 38Thursday 40 0 10 32Friday 32 36 12 55Saturday 55 0 14 41Sunday 41 0 8 33Which product(s) do you think that you should look closer at? Why?Restaurant NamePerpetual Inventory WorksheetWeek Beginning >MM/DD/YYWeekDay of the Week >MONTUEWEDTHUFRISATSUNOver(Short)(T-Bone Steaks /48 oz)Beginning InventoryReceivedSoldAdjustments + (-)Ending Inventory – ACTUALDifference – over (short)(Itchy and Scratchy Beer / 12 oz bottles)Beginning InventoryReceivedSoldAdjustments + (-)Ending Inventory – ACTUALDifference – over (short)(Hamburger Patties / 8 oz indv.)Beginning InventoryReceivedSoldAdjustments + (-)Ending Inventory – ACTUALDifference – over (short)(Lobsters / 2# indv)Beginning InventoryReceivedSoldAdjustments + (-)Ending Inventory – ACTUALDifference – over (short)