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About 45% of the most common claims fall under commercial property insurance, but it's good for restaurant owners to cover all of their bases when it comes to coverage.
Restaurant insurance can act as a safety net that can help cover repair costs, equipment replacement and lost revenue from weather-related business interruptions. Here are some examples of how ...
Often, limited data is available to determine appropriate charges for high limits of insurance. In order to price policies with high limits of insurance adequately, actuaries may first determine a "basic limit" premium and then apply increased limits factors. The basic limit is a lower limit of liability under which there is a more credible ...
Cover per Occupied Room (CPOR) is one statistic which can be used in forecasting. [3]This is the average spent per individual customer, which can be calculated separately for each member of the serving staff.
Markup price = (unit cost * markup percentage) Markup price = $450 * 0.12 Markup price = $54 Sales Price = unit cost + markup price. Sales Price= $450 + $54 Sales Price = $504 Ultimately, the $54 markup price is the shop's margin of profit. Cost-plus pricing is common and there are many examples where the margin is transparent to buyers. [4]
The difference between the cost of an inventory calculated under the FIFO and LIFO methods is called the LIFO reserve (in the example above, it is $750, i.e. $5250 - $4500). This reserve, a form of contra account , is essentially the amount by which an entity's taxable income has been deferred by using the LIFO method.
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