SOLUTION: George Brown College Week 4cContributory Income Round to a Whole Number Report Paper

PART A: Contributory Income ROUND TO A WHOLE NUMBER
1) You have recently been hired as the General Manager for a food and beverage
corporation with 3 companies.
a) Fill in the percentages and missing dollar values to determine the Contributory Income.
b) What are the 2 biggest challenges that are within Managements control, and describe
why management must look further into each?
c) For each challenge described above, discuss 1 potential cause (2 in total) and 1
potential solutions (2 in total) that management can immediately implement for EACH
problem to overcome each challenge. Please format your answer with problem 1,
cause 1, and solution 1, followed by problem 2, cause, and solution.
Contributory Income
DIRECT EXPENSES
Beer Taps
Sales Revenue (25% or
higher Industry
Standard)
%
Wings/Apps
%
Martinis
$65,000
$28,000
$71,000
26,450
$11,400
$15,010
Wages (30-35%
Industry Standard)
$6,450
$4,800
$2,920
Other Direct Costs (710% Industry standard)
$1,550
$6,240
$3,390
Cost of Sales (30-35%
Industry Standard)
Total Direct Costs
Contributory Income
$
%
Total
PART B: HORIZONTAL ANALYSIS
(a)
(b)
Convert the above income statement Comparative Horizontal.
Using the data, explain all the elements that make management effective (Support
numerically) and explain all the elements that make management ineffective
(Support numerically). Outline the biggest problem and why management should
investigate this problem.
Bryan’s Bistro
Income Statement
in (thousands)
$
%
Favourable/Unfavoura
Sales
2015
2014
Chang Chang
ble
e
e
Food Sales $ 2,203,342
$ 2,305,234
Wine Sales $
330,501
$
345,785
Liquor Sales $
220,334
$
230,523
Beer Sales $
88,134
$
92,209
Soft
Beverage
Sales $
44,067
$
23,052
Catering
Sales $
220,334
$
23,052
Total Sales
$ 3,106,712
$ 3,019,857
COST of
Goods Sold
(needs to
change with
sales)
Food Cost of
Sales
Wine Cost of
Sales
Liquor Cost
of Sales
Beer Cost of
Sales
Soft
Beverages
Cost of Sales
Catering Cost
of Sales
Total Cost of
Sales
Gross Profit
$
683,036
$
714,623
$
92,540
$
96,820
$
30,847
$
32,273
$
48,474
$
23,052
$
4,407
$
2,305
$
66,100
$
6,916
$
$
925,404
2,181,309
$
$
875,989
2,143,868
Do not
change with
Sales
Labour Cost
Operating
Costs
Rent Costs
Waste
Removal
Costs
Insurance
Costs
Utilities Costs
Manager
Costs
Total Indirect
Costs
Net
Profit/Loss
$
1,180,551
$
1,056,950
$
$
155,336
155,336
$
$
150,993
181,191
$
31,067
$
30,199
$
$
62,134
93,201
$
$
60,397
90,596
$
310,671
$
301,986
$
1,988,296
$
1,872,311
$
193,013
$
271,557

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