RES301- revision 1

What is P&L report?

• Profit & Loss report

• Profit management report

• percentage of profit report

• Decimal profit report

Why do we need P&L report

• To analyze & assist in planning for a profit

• To see what is profit we can gain after deducting for expenses

• Both are correct

What is budgeting

• to forecast for profit

• to allow managers to plain their next accounting period's operating result

• to forecast revenue in the next accounting period's operating result

• non of the above

The average F&B cost percentage in producing menu items is:

• 33%

• 35%

• 40%

• 28%

How to calculate Labor Cost %?

• labor cost divides total revenue

• labor cost divides revenue of food

• revenue x labor cost= labor cost percentage

• revenue divides lalor cost

How to calculate GOP

• revenue minus material cost

• Revenue minus Labor cost & Material cost

• Revenue minus all operation expenses

• revenue minus material cost, labor cost and F&B cost

To appraise for the result of business versus budget, what is the formula you will use?

• 
• 
• 

Compute average sales per guest, how you can do?

• total sales x average sales per guest = number of guest served

• total sales/ number of guest served = average sales per guest

• total sales x number of guest served = average sales per guest

revenue forecast is calculated using the following formula

• sales last year + ( sales last year x % increase estimated)

• sale last year x ( 1 + % increase estimated)

• both are true

• both are false

how to forecast future sales per guest?

• A. last year revenue / number of guests served + estimated increase

• B. last year revenue/ sales per guest + estimated increase

• C. last year average sales per guest + estimated increase

• A&C are correct

• B&C are correct