Problem
1) Explain why, as a business owner, you would not want the person in charge of payroll be the same person in charge of recording employee's hours and determining their rate of pay.
2) Explain 2 management considerations when purchasing Non-alcoholic beverages.
3) Name two management considerations when purchasing Furniture, Fixtures and Equipment
4) Determine the Actual Cost of Food Sold during the month using the following information:
a) Opening (beginning) food inventory - $20,000
b) Food purchases during the month - $45,000
c) Ending food inventory - $14,750
d) Cost of employee meals and other credits - $2,000
5) Determine the Actual Cost of Food Sold during the month using the following information:
a) Opening (beginning) food inventory - $20,000
b) Food purchases during the month - $45,000
c) Ending food inventory - $14,750
d) Cost of employee meals and other credits - $2,000.