An operation had sales of $39,000 in an accounting period. The operation's food cost for the period was 38 percent. The operation spent $6,000 on meat in the period. What was the operation's meat cost percentage for the period?

Question

Quizplus · Accepted Answer

To find the meat cost percentage, divide the meat cost by the total sales and multiply by 100. So, ($6,000 / $39,000) * 100 = 15.38%. However, the closest option is 16.7%, which suggests a rounding or approximation error in the options provided.

An Operation Had Sales of $39,000 in an Accounting Period