Fish O’ Mari is a fish and chips takeaway restaurant selling tasty seafood to the public. Fish O’ Mari prepares various seafood meals. Mr Trout the owner of Fish O’ Mari is your dear friend and he asked you to help him with calculating new selling prices
Mr Trout provided you with the cost price per meal as well as the gross profit percentages for both standard and gourmet meals to be used in calculating the new selling prices.
Standard meals are meals prepared with more common types of seafood (e.g. hake) whilst gourmet meals include specially sourced seafood (e.g. prawns) that is not as freely available.
All meal combinations are made up of a protein (e.g. hake prawns or calamari) and starch (e.g. chips or rice).
Mr Trout gave you the following information:
• The gross profit percentage is based on cost of sales.
• The structure of the meal code is as follows:
Character 1: The first character indicates the type of protein included in the meal.
Character 2: The second character indicates the type of starch included in the meal.
Character 4: The last and fourth character indicates whether the meal is classified as a “standard” (“S”) or “gourmet” (“G”) meal. This will influence the gross profit percentage.
• The gross profit percentage for standard meals (S) is 20% (refer to cell C4).
• The gross profit percentage for gourmet meals (G) is 30% (refer to cell C5).
• Fish O’ Mari is a registered VAT vendor. The Value Added Tax (VAT) percentage is 14%, refer to cell B7.
You have created the spreadsheet below:
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