Room Sales $1,850,000Food Sales 525,000Food Cost 300,000Statistical Data:115 rooms available daily for salePaid rooms occupied annually: 33,580Covers: 34,425The Occupancy percentage is:Answer A. 75% B. 70% C. 65% D. 80% Room Sales $1,850,000Food Sales 525,000Food Cost 300,000Statistical Data:115 rooms available daily for salePaid rooms occupied annually: 33,580Covers: 34,425Food Contribution Margin as a percentage is:Answer A. 57.1% B. 28.3% C. 44.5% D. 42.9% Room Sales $1,850,000Food Sales 525,000Food Cost 300,000Statistical Data:115 rooms available daily for salePaid rooms occupied annually: 33,580Covers: 34,425The 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 costsB. Fixed and variableC. Price and costD. Volume and priceWhich of the following is found on the Balance Sheet?Answer A. RevenueB. Retained EarningsC. Administrative expensesD. Operating expensesWhat is the definition of Sales Mix?Answer A. Food and beverage and other items soldB. Sales from all departmentsC. The proportion of each revenue centers sales to total salesD. Sales shared by two or more departmentsWhat are some reasons why the management of cash flow is important?Answer To make sure there will be enough cash to buy inventoryTo pay the payrollTo pay dividendsAll of the aboveIf 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 fraudThe company with the greater fixed cost in relation to variable will have a greater gross profitThere will be no differenceWhich of the following are functions that a CPA must perform during an Audit?Answer A. Confirm the receivables with the companys customersB. Review the minutes of the Corporate meetingsC. Verify the existance of marketable securities and their market valueD. All of the above
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