Question

If a restaurant's gross receipts for one week total $150,595, and 26 percent of that amount is for labor, 37 percent for food cost, and 15 percent for miscellaneous items, how much is the profit?

Answer 1

The gross receipt is, $150595.

26% is for labor, that is, we have,

$labor\cos t=\frac{26}{100}\times150595=39154.7$

37% is for food cost, that is we have,

$\text{food cost =}\frac{37}{100}\times150595=55720.15$

15 percent for miscellaneous items. we have,

$\text{random}=\frac{15}{100}\times150595=22589.25$

Therefore, the total cost is,

$total=39154.7+55720.15+22589.25=117464.1$

Thus, the profit is,

$150595-117464.1=33130.9$