Green’s Dictionary of Slang

toast adj.2

[SE toast]

1. facing serious problems; esp. in phr. you’re toast.

Aykroyd & Ramis Ghostbusters [film script] All right! This chick is TOAST!
[US]Eble Campus Sl. Mar. 10: toast – victim of misfortune: I broke the TV. I’m toast!
[US]Eble Campus Sl. Apr.
[US]A. Heckerling Clueless [film script] cher: Did you get your report card? dionne: Yeah, I’m toast. How’d you do?
[UK]K. Sampson Powder 366: If you have got one single piece of ass in there, your fuckin ass is toast!
[Ire]P. Howard PS, I Scored the Bridesmaids 233: I don’t worry about him. The goy’s focking toast.
[UK]Observer 9 Jan. 31/4: Lose Oldham and the heat is on. Lose the AV referendum and Nick Clegg is toast.
[UK]Eve. Standard (London) 24 June 5/4: One senior MP said, ‘He is toast. If we go into a general elction with him as leader we will be wiped out’.

2. (US campus, also french toast) tipsy or hungover.

[US]Eble Campus Sl. Sept. 6: toast – experiencing the ill effects of alcohol: John was toast.
[US]Eble Campus Sl. Oct. 2: french toast – completely drunk.

3. dead.

[Ire]P. Howard PS, I Scored the Bridesmaids 43: Scooby’s more than stunned. He’s toast.

In derivatives

toasty (adj.)

pleasantly intoxicated by alcohol.

[US]Eble Campus Sl. Nov. 9: toasty – feeling good from alcohol.