Question

Mike's Café in June has revenue receipts of $75,000.00. His cost of goods

sold was $ 22,753. What is his food cost percentage for the month

Answer 1

Answer: 30.3%

This is a simple division problem

First let's take our given value of $75,000

and our other value of $22,753

Now we must divide the $22,753 by $75000

22,753/75,000

=0.30337

Convert the decimal into a percentage

30.3%