Solve the Problem. -Stephanie Is a Waitress and She Is Paid $2.96 Per

question 212

Multiple Choice

Solve the problem.
-Stephanie is a waitress and she is paid $2.96 per hour plus 15% of the total cost of the food and beverages she serves. If during a 7-hour shift she earns $200, what was the total cost of the food and beverages she served?

• A)$210.92
• B)$1195.20
• C)$155.90
• D)$1471.47

---

Definitions:

Perpetual Inventory System

An accounting method that records the sale or purchase of inventory immediately through the use of technology, ensuring continuous updating of inventory and cost of goods sold data.

Freight Costs

Expenses incurred by a company to ship its products to customers, usually varying based on distance and weight.

Inventory Account

An accounting record that tracks the cost of goods available for sale or used in production.

Perpetual Inventory System

An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.