George Mason University Kill Shot Night Club and Accounting Worksheet

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nelb92

Business Finance

George Mason University

Description

The picture is attached. There is one problem and one parah easy.The problem and ready are not related together (2 separate things)

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Problem: You operate a nightclub in Miami. You have 100 seats in the restaurant and 15 stools in the bar. You are open for dinner only, 8:00 p.m. – midnight and are closed Sundays. Average dine time in the restaurant is 1.25 hours (75 minutes). Average dinner guest check is 32 dollars. The bar revenue is 60,000 dollars per month. Food cost is 30% and beverage cost is 20%. Salaries and wages are a total of $750,000 (ok to combine them here), marketing expenses are 10% of total sales, and other operating expenses are 5% of total sales. Food revenues come from the restaurant and beverage revenues come from the bar. Complete an annual income statement in the gross margin format for the nightclub. (You cannot order food in the bar). Remember to name your club. Short Essay: Assume you are the new manager at Cheesecake Factor in San Francisco. For each of the two components of revenue for hospitality businesses (Quantity and Price) identify one specific action you could take to increase that component. For example, to improve quantity (Q) I would add additional patio tables at the restaurant to increase the number of seats (don't use that one). Comment on how understanding the relationship between those components (Q and P) can make you a better manager.
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Explanation & Answer

Attached. Please let me know if you have any questions or need revisions.

Number of Seats
Number of Stools
Average dinner time (hours)
Average dinner check
Monthly Bar Revenue
Costs
Food
Beverages
Salaries and wages
Marketting
Operating expenses

100
15
1.25
$32
$60,000

30%
20%
$750,000
10%
5%

Kill Shot Night Club
Income Statement
For the Year Ending 20XX
Revenue
Restaurant
$3,194,880
Bar
$720,000
$3,914,880
Cost of Goods Sold
Restau...


Anonymous
Excellent resource! Really helped me get the gist of things.

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