A restaurant reports the following information: Dining room food revenue $80,000 Catering food revenue $21,000 Direct wages $33,000 Management wages $90,000/year Fringe benefits $2,870 Total beverage revenue $32,588 What are total monthly wages in % 38% 35% 33% 25%

A restaurant reports the following information: Dining room food revenue $80,000 Catering food revenue $21,000 Direct wages $33,000 Management wages $90,000/year Fringe benefits $2,870 Total beverage revenue $32,588 What are total monthly wages in % 38% 35% 33% 25%

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 30E: A company uses charging rates to allocate service department costs to the using departments. The...

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Concept explainers

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

Question

A restaurant reports the following information:

Dining room food revenue $80,000

Catering food revenue $21,000

Direct wages $33,000

Management wages $90,000/year

Fringe benefits $2,870

Total beverage revenue $32,588

What are total monthly wages in %

38%

35%

33%

25%

Definition Definition Benefits in addition to compensation that companies give to their employees. Fringe benefits can boost morale and productivity and keep employees motivated. Companies often use fringe benefits as a competitive advantage to recruit and retain employees. Examples of fringe benefits include pensions, vacation time, tuition reimbursement, free or subsidized meals, and gym memberships.

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