Niagara Bistro
INCOME STATEMENT
YEAR ENDED DECEMBER 31, 20XX
Sales
Food $1,652,120.55
Beverage $501,242.02
Total Sales $2,153,362.57
Cost of Sales
Food $410,685.32
Beverage $106,582.25
Total Cost of Sales $517,267.57
Gross Profit $1,636,095.00
Controllable Expenses
Salaries and Wages $412,402.64
Employee Benefits $103,100.66
Other Controllable Expenses $281,830.00
Total Controllable Expenses $797,333.30
Income Before Occupancy costs $838,761.70
Interest, Depreciation, and Income Taxes
Occupancy Costs $77,230.00
Interest $25,600.00
Depreciation $79,099.00
Total $181,929.00
Restaurant Profit $656,832.70
Using the above income statement, the Manager of the Niagara Bistro calculates his total fixed costs to be $669,521.35
Based upon this, compute the following information, and fill in the blanks for each question below. When calculating breakeven dollars for the Bistro use four (4) decimal places when using the B/E formula. For example, if you are to use 39.54 %, as a decimal use .3954 in the formula. Do not enter $ signs, commas or % signs for your answers in this question. Simply enter numbers.
Calculate the following:
Total Variable Costs $
Total Variable Cost % to two decimal places is
%
Total Contribution Margin $
Total Contribution Margin % to 2 decimal places is
%
Break even cost in dollars for the Niagara Bistro is $
Assuming that the average contribution margin per unit is $14.95 the number of customers that the Bistro needs to serve in order to break even is
. Round your answer up. Do not use decimals.
If the Bistro were to achieve a profit of $225,000.00, they need to achieve $
in Sales Revenue.