A fast food restaurant has 125 seats, an average check of 3.00, a daily seat turnover of 2.5 and the restaurant is open 5 days a week. Average check is forecast to increase by 10 % next year. Next year's budgeted sales revenue will be: 328,100 dollars 252,128 dollars 2,268,125 dollars 2,243,750 dollars 268,125 dollars

A fast food restaurant has 125 seats, an average check of 3.00, a daily seat turnover of 2.5 and the restaurant is open 5 days a week. Average check is forecast to increase by 10 % next year. Next year's budgeted sales revenue will be: 328,100 dollars 252,128 dollars 2,268,125 dollars 2,243,750 dollars 268,125 dollars

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Mooney Equipment is putting together its cash budget for the following year and has forecasted expected cash collections over the next five quarters (one year plus the first quarter of the next year). The cash collection estimates are based on sales projections and expected collection of receivables. The sales and cash collection estimates are shown in the following table (in millions of dollars): Q1 Q2 Q3 Q4 Q5 Sales $1,100 $1,400 $1,450 $1,250 $1,500 Total cash collections $1,100 $1,150 $1,200 $1,200 You also have the following information about Mooney Equipment: • In any given period, Mooney’s purchases from suppliers generally account for 72% of the expected sales in the next period, and wages, supplies, and taxes are expected to be 15% of next period’s sales. • In the third quarter, Mooney expects to expand one of its plants, which will require an additional $1,072 million investment. • Every quarter, Mooney pays $60 million in interest and…
Barnstormer sells airplane accessories for $20 each. It expects sales of 120,000 units in quarter 1 and a 7% increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year. What would quarter 4 total revenue be?
parker Corp, which operates on a calendar year expects to sell 5.000 in October and expects to increase 20% each month Sales price is expected to stay constant at $11 per unit. What are budgeted revenues for the fourth quarter
A farm is preparing its cash budget for the next year. Sales are expected to be P100,000 in January, P200,000 in February, P300,000 in March, and P100,000 in April. Approximately, half of all the sales are cash sales and the other half are on credit. Experience indicates that 70% of the credit sales will be collected in the month following the sale, 20% in the month after that, and 10% in the third month after the sale. What is the budgeted collection for April?
Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year. What is the amount of total sales revenue for the year?
after reviewing last years budget you find an unspent $ 5600. If next year you deposit 45% of that amount into an account earning 2.3 % compunded weekly how much will be in the account after 5 years ?
XYZCorporation, is preparing a quarterly sales budget. ABC predicts sales of 40,000 games in Q1 at P5 per game. XYZ predicts that game sales will grow by 4% each quarter and that game price will increase by 5% each quarter. Each game costs P3 to produce in Q1. Costs are expected to grow by 3% each quarter. Using a quarterly sales budget, calculate sales revenue for the year. a. 169,859 b. 383, 598 c. 917,306. d, 800,000
Parker corp which operates on a calendar year, expects to sell 6000 units in october and expects sales to increase 10% each month there after. Sales price is expected to stay constant at 17 per unit. what are budgeted revenues for the fourth quarter?102,000 306,000336,600337,620
Benjamin is working on next year's budget. Given the following information, calculate the budgeted total revenue for his restaurant. Total Revenue last year: Guest count last year: Increase in guest check average: Increase in total guest count: 3% $18,540 $185,400 $203,940 $463,500 $180,000 7200 $2.50
Golden Corporation is preparing its cash budget for the next year. Sales are expected to be at P100,000 for January; P200,000 for February; P300,000 for March; and P100,000 for April. Approximately half of the sales are cash basis and the other half are on account or on credit. Of the credit sales, 70% is collected on the following month; 20% on the second month, and 10% on the third month. What is the budgeted collection for April? 1. P 130,000 2. P 180,000 3. P 260,000 4. P 360,000 Group of answer choices 1 2 3 4
Budgeted sales per annum are 5 000 breads. Sales occurs evenly throughout the year. Assume 365 days in a year.The margin of safety in breads per annum
1. Airpro Company paid its employees a total of $600,000 in salaries last year. Next year, they will increase those employees' wages by 20% and hire six new employees, who will receive a base salary of $25,000. Required: Prepare an Incremental Budget