Communicate the impact of mathematical results in a discipline specific situation.
A foodservice operation’s income statement provides important financial information regarding the results of operations for a stated period of time, usually one month.
Some foodservice operators refer to the income statement by its full name: the Statement of Income and Expense, or the Statement of Income. Others refer to the income statement as the “Profit and Loss” Statement or P&L. Regardless of the name used, income statement information is developed through a recordkeeping process mandated by the manager, owner, or foodservice company.
At the end of each accounting period, other standardized and generally accepted accounting principles (GAAP) are used by an operation’s accountants to ensure the accounting methods used accurately reflect the operation’s financial activities. Since the income statement reveals operating results, it is an important measure of the effectiveness and efficiency of management. A later section this unit’s reading examines some common financial ratios used to evaluate management’s effectiveness. Many of the numbers needed to calculate important ratios come from the income statement (Ninemeier, 2022).
Reference
Ninemeier, J. D., & Hayes, D. K. (2022). Management of food and beverage operations (7th ed.). American Hotel & Lodging Educational Institute.
Assignment Checklist:
Download the Microsoft Excel® Profit and Loss Statement template and save it as TH213_Unit 10_YourLastName.
Input the following figures:
“Revenue” for Food $35,000
“Revenue” for Beverage $25,000
“Cost of Food Sales” $15,000
“Cost of Beverage” $5,000
“Total Labor Cost” $6,700
“Total Other Expenses” $2,200
Calculate the following in the cost ($) column:
Total Food and Beverage Revenue
Total Cost of Food and Beverage Sales
Gross Profit
Total Expenses
Departmental Profit
Calculate the following in the percentage (%) column:
Food
Beverage
Total Food and Beverage Revenue
Cost of Food Sales
Cost Beverage Sales
Total Cost of Food and Beverage Sales
Total Labor Cost
Total Other Expenses
Total Expenses
Discuss three primary purposes of an Profit and Loss Statement in the food and beverage industry with supporting details.
Directions:
Input the figures provided in the Microsoft Word file into the P & L Statement.
Type 35000 in Cell B6
Type 25000 in Cell B7
Type 15000 in Cell B11
Type 5000 in Cell B12
Type 6700 in Cell B16
Type 2200 in Cell B17
Calculate the following in the $ column:
Type =B7+B6 in cell B8
Type =B11+B12 in cell B13
Type =B8-B13 in cell B14
Type =B16+B17 in cell B18
Type =B14-B18 in cell B19
Calculate the following in the % column:
Type =B6/B8 in cell C6
Type =B7/B8 in cell C7
Type =C7+C6 in cell C8
Type =B11/B13 in cell C11
Type =B12/B13 in cell C12
Type =C12+C11 in cell C13
Type =B16/B18 in cell C16
Type =B17/B18 in cell C17
Type =C17+C16 in cell C18
Access the submission guidelines and rubric on Tab 3.
Besides the profit and loss statement submission, you should submit a paper that must include an introduction and conclusion. The paper should be a minimum of 250 words in length using an 11- or 12-point sans serif font such as Ariel. Additionally, you must include a reference page, and your references and citations must use the current APA format and citation style. For assistance writing a paper, please see the Academic Writer link under Academic Tools.
Reference your course textbook and at least one additional reliable and/or scholarly source.
Submit your completed assignment to the Unit 10 Assignment Dropbox. Assignments are due Tuesday at 11:59 p.m. ET of their assigned unit.
Preview the Unit 10 Assignment rubric.
Criterion 1 (30%)
Level III Max Points
18 points
Level II Max Points
15.3 points
Level I Max Points
10.8 points
Not Present
0 points
Criterion Score
Calculate the $ Column
Includes all of the below items in a completed profit and loss statement:
Inputs and calculates accurately the following in the cost ($) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost of beverage sales
Total cost of food and beverage sales
Gross profit
Total labor cost
Total other expenses
Total expenses
Departmental profit
Includes 10 of the below items in a completed profit and loss statement:
Inputs and calculates accurately the following in the cost ($) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost of beverage sales
Total cost of food and beverage sales
Gross profit
Total labor cost
Total other expenses
Total expenses
Departmental profit
Includes nine or less of the below items in a completed profit and loss statement:
Inputs and calculates accurately the following in the cost ($) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost of beverage sales
Total cost of food and beverage sales
Gross profit
Total labor cost
Total other expenses
Total expenses
Departmental profit
Does not meet sufficient criteria.
Score of Calculate the $ Column,
/ 18
Criterion 2 (30%)
Level III Max Points
18 points
Level II Max Points
15.3 points
Level I Max Points
10.8 points
Not Present
0 points
Criterion Score
Calculate the % Column
Calculates all of the following accurately in the percentage (%) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost beverage sales
Total cost of food and beverage sales
Total labor cost
Total other expenses
Total expenses
Calculates eight of the following accurately in the percentage (%) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost beverage sales
Total cost of food and beverage sales
Total labor cost
Total other expenses
Total expenses
Calculates seven or less of the following accurately in the percentage (%) column:
Food
Beverage
Total food and beverage revenue
Cost of food sales
Cost beverage sales
Total cost of food and beverage sales
Total labor cost
Total other expenses
Total expenses
Does not meet sufficient criteria.
Score of Calculate the % Column,
/ 18
Criterion 3 (20%)
Level III Max Points
12 points
Level II Max Points
10.2 points
Level I Max Points
7.2 points
Not Present
0 points
Criterion Score
Income Statement Purpose
Meets all criteria:
In a 250-word paper:
Discusses three primary purposes of a profit and loss statement with supporting details.
Meets all criteria:
In a 250-word paper:
Discusses two primary purposes of a profit and loss statement with supporting details.
Meets all criteria:
In a 250-word paper:
Discusses one primary purpose of a profit and loss statement with supporting details.
Does not meet any criteria.
Score of Income Statement Purpose,
/ 12
Criterion 4 (10%)
Level III Max Points
6 points
Level II Max Points
5.1 points
Level I Max Points
3.6 points
Not Present
0 points
Criterion Score
APA Style
Meets all criteria:
Applies APA style to in-text citations with minor errors.
Applies APA style to references, with minor to no errors.
References the course textbook and at least one additional reliable and/or scholarly source.
Meets two criteria:
Applies APA style to in-text citations with minor errors.
Applies APA style to references, with minor to no errors.
References the course textbook and at least one additional reliable and/or scholarly source.
Meets one criterion:
Applies APA style to in-text citations with minor errors.
Applies APA style to references, with minor to no errors.
References the course textbook and at least one additional reliable and/or scholarly source.
Does not meet any criteria.
Score of APA Style,
/ 6
Criterion 5 (10%)
Level III Max Points
6 points
Level II Max Points
5.1 points
Level I Max Points
3.6 points
Not Present
0 points
Criterion Score
Writing Conventions
Meets all criteria:
Writing is focused, concise, and organized in an informative essay format.
Articulates at a college level in a 250-word paper. Few or no grammar or punctuation errors.
Uses non-offensive, inclusive, and respectful language.
Includes a title page, introduction, body, and conclusion.
Meets three criteria:
Writing is focused, concise, and organized in an informative essay format.
Articulates at a college level in a 250-word paper. Few or no grammar or punctuation errors.
Uses non-offensive, inclusive, and respectful language.
Includes a title page, introduction, body, and conclusion.
Meets two criteria:
Writing is focused, concise, and organized in an informative essay format.
Articulates at a college level in a 250-word paper. Few or no grammar or punctuation errors.
Uses non-offensive, inclusive, and respectful language.
Includes a title page, introduction, body, and conclusion.
Does not meet sufficient criteria.
Score of Writing Conventions,
/ 6
Total
Score of TH213 Unit 10 Assignment Rubric,
/ 60
Overall Score
Level III
51.001 points minimum
Level II
36.001 points minimum
Level I
0.001 points minimum
Not Present
0 points minimum
