Letter with 'C'
The difference between an item's revenue (selling price) and food cost (cost of goods sold).
What is 'CM (contribution margin)'?
A document that summarizes the operation's profitability for an accounting period.
What is 'income statement'?
A document that informs a vendor that the vendor's proposal was accepted and that the order should be delivered.
What is 'purchase order'?
What is 'credit memo'?
A financial plan that estimates revenues and expenses for a specific time period.
What is 'operating budget'?
A system used to control risks and hazards throughout the flow of food.
What is 'HACCP (Hazard Analysis Critical Control Point)'?
A chart that shows employees what days and hours they are expected to work during a specific time period, usually a week.
What is 'crew schedule'?
The percentage of all food revenue that was spent on purchasing the food products required to generate that revenue.
What is 'fire suppression system'?
Strategies used to promote products and services offered in addition to those noted on a specific menu.
What is 'cross-selling'?
A number obtained by dividing the number of each specific item sold by the total number of item sold.
What is 'menu mix percentage'?
An inventory system that involves manually counting the number of each product on hand.
What is 'physical inventory system'?
The number of times in each accounting period (usually a month) that the quantity of food or beverages in inventory must be purchased to generate the food or beverage revenue for the accounting period.
What is 'inventory turnover rate'?
The realistic range of skills or credentials needed to perform the essential job functions.
What is 'BFOQs (Bona Fide Occupational Qualifications)'?
A short-term promotional discount to introduce new products or to quickly sell products with outdated packaging.
A system of ongoing efforts to better meet or exceed customers' expectations, and to define ways to perform work with better, less costly, and faster methods.
What is 'continuous quality improvement (CQI)'?