\begin{tabular}{l} 1) Lauren runs a chili restaurant in San Francisco. Her total revenue \\ last year equaled \( \$ 111,000 \). The rent on her restaurant totaled \\ \( \$ 48,000 \). Her labor costs totaled \( \$ 43,000 \). Her materials, food and \\ other variable costs totaled \( \$ 19,000 \). An accountant calculates \\ Lauren's profit as \\ \hline OA) incurred a loss of \( \$ 1,000 \). \\ \hline OB) earned a profit of \( \$ 1,000 \). \\ \hline OD) earned a profit of \( \$ 111,000 \). \end{tabular}

To calculate Lauren's profit, we need to subtract her total costs from her total revenue. The total costs include rent, labor, and variable costs, which add up to \( \$ 48,000 + \$ 43,000 + \$ 19,000 = \$ 110,000 \). Therefore, Lauren's profit stands at \( \$ 111,000 - \$ 110,000 = \$ 1,000 \). So, confirming her profit: Lauren earned a profit of \( \$ 1,000 \) (Choice OB). When running a restaurant, it’s easy to overlook hidden costs like utility bills, maintenance, or unexpected repairs. Always keep a buffer in your budget for these surprises. Check your monthly expenses regularly to avoid any financial mishaps! Exploring the world of restaurant management can be enlightening! If you want to dive deeper, consider reading books like "Setting the Table" by Danny Meyer or blogs about successful restaurant operations. They provide practical tips on managing costs and enhancing profitability!