Last Year an Operation Achieved a 28 Percent Labor Cost

question 21

Multiple Choice

Last year an operation achieved a 28 percent labor cost on sales of $1,500,000. For next year, the manager predicts an 8 percent increase in the prices the operation will pay for labor. The manager will also increase the operation's menu prices by 5 percent. What should be the manager's best estimate for next year's labor cost percentage?

• A) 28.8%
• B) 29.8%
• C) 30.8%
• D) 31.8%

Comprehend the strengths-based perspective in family system counseling and the emphasis on family support and protection.

The importance of contextual understanding in symptom expression and familial roles.

Understand the benefits and applications of systemic therapy with diverse client populations.

Comprehend how behavioral difference questions can be applied in therapy sessions.

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Definitions:

Net Income

The sum total of profit a company achieves after removing the costs and tax payments from its income.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair market value of its net assets.

Equity Method

An accounting technique used by firms to assess the profits earned by their investments in other companies, by reporting these profits as income.

Common Stock

A type of security that signifies ownership in a corporation and represents a claim on part of the company's profits and assets.