Room Sales $1,850,000 Food Sales 525,000 Food Cost 300,000 Statistical Data: 115 rooms available daily for sale Paid rooms occupied annually: 33,580 Covers: 34,425 The Occupancy percentage is: Answer A. 75% B. 70% C. 65% D. 80% Room Sales $1,850,000 Food Sales 525,000 Food Cost 300,000 Statistical Data: 115 rooms available daily for sale Paid rooms occupied annually: 33,580 Covers: 34,425 Food Contribution Margin as a percentage is: Answer A. 57.1% B. 28.3% C. 44.5% D. 42.9% Room Sales $1,850,000 Food Sales 525,000 Food Cost 300,000 Statistical Data: 115 rooms available daily for sale Paid rooms occupied annually: 33,580 Covers: 34,425 The Average Food Check is: Answer A. $15.00 B. $15.25 C. $15.70 D. $16.00 The two elements of revenue are: Answer A. Semi-variable and fixed costs B. Fixed and variable C. Price and cost D. Volume and price Which of the following is found on the Balance Sheet? Answer A. Revenue B. Retained Earnings C. Administrative expenses D. Operating expenses What is the definition of Sales Mix? Answer A. Food and beverage an
d other items sold B. Sales from all departments C. The proportion of each revenue centerΒs sales to total sales D. Sales shared by two or more departments What are some reasons why the management of cash flow is important? Answer To make sure there will be enough cash to buy inventory To pay the payroll To pay dividends All of the above If two companies have the same sales and the same net incomes, why would one company have a greater profit if sales increase at the same rate for both companies? Answer The company with the lower fixed cost in relation to variable will have a greater gross profit This happens only because of financial statement fraud The company with the greater fixed cost in relation to variable will have a greater gross profit There will be no difference Which of the following are functions that a CPA must perform during an Audit? Answer A. Confirm the receivables with the companyΒs customers B. Review the minutes of the Corporate meetings C. Verify the existance of marketable securities and their market value D. All of the above