Recipe Costing
If ground beef costs $3.98 # and the yield % is .96, what is its cost per #?
What is $4.14 #
Another name for a Profit and Loss statement is:
What is Income Statement?
When each item on the menu has a separate price, it is an _______ _______ _______.
What is an à la carte menu?
A meal offered for one price is called?
What is Table d'Hôte
What are the elements /components of an income statement?
Revenue for The M & M Restaurant on Sunday was $950.00. The food served cost $325. What was the food cost %?
What is 34.2%
Sales -cost of sale = _______ _______ or ________
________
What is Gross Profit or Contribution Margin?
A menu wherein items are regularly repeated and is normally written for a week or more. There are several benefits, including control factors, which are associated with this type of menu.
What is a cyclical menu?
Standards are the driving force of operation and cost containment. What are two requirements standards must meet?
What is they must be :
What are some examples of controllable expenses?
If a restaurant's food cost is 35 %, that means:
What is for every dollar generated in sales they spent $.35 in food.
A. Beginning Inventory + Purchases=
B. Beginning Inventory + purchases - _________ ______=Cost of Goods Used
A.What is the total goods available?
B. What is ending inventory?
Which is not a factor when designing a menu?
A. Location
B. Demographics
C. Competition
D. Employee preferences
What are employee preferences?
Food storage of items must be safeguarded using the ______________ method.
What is the ABCD Method?
In hospitality operations, what should be controlled?
. What are some examples of some non-controllable expenses?
Rent
Depreciation
The difference between the Cost of Goods Used and Cost of Goods sold are:
What is cost of employee meals, transfers in or transfers out?
What is the selling price of a menu item (Lasagna) if it costs $6.25 to produce and the food cost % is .35 %?
What is $ 17.85?
In order to control food and beverage costs managers must have _______ in place for storeroom control?
What is have a person responsible for issuring items from the storeroom, manage inventory, keeping costs accurate.
Why do businesses fail? name 4 factors
Given the operation result, what are some ways success can be measured?
What is ratio analysis, comparing results with budget?
What are the methods of forecasting?
What is:
Sales force estimates
Moving averages
Decomposition - time series
trends, cyclical, seasonal, randomness
Simple time
Smoothing
Executive opinion
Delphi method - formal process?
What are two types of budgets?
What is
•Static (fixed
•Flexible
Break-even formula
Break-even = FC or FC
1-VC% CM%
Fixed Costs $25,000
VC 20%
What is $31,250?
What are the benefits of forecasting and budgeting?
What is
Staff properly
Control costs
Make decisions
Plan strategically
Maximize profits
Standard of comparison
Set prices accordingly?