Show:
Basics
Overview
Costs Category
Accounting
Misc.
100
Another word for trade.
What is commerce?
100
A form issued by the buyer and sent to the purveyor.
What is a Purchase Order (P.O.)?
100
Costs that can often be adjusted through proper controls. They may be controlled, to some degree, by management. Also known as controllable costs.
What is a variable cost?
100
A storeroom storing and issuing policy meaning "first in, first out."
What is FIFO?
100
The form of cash payments or products of value being given to a food operation's employee, by a vendor, in exchange for special consideration.
What is a kickback?
200
Matches the specific characteristics of the product to the specific needs of the business.
What is Optimal Purchasing?
200
The middlemen between the sources and the food service operators or buyers.
What are intermediaries?
200
Costs are those that can be easily assigned to a product.
What is a direct cost?
200
A storeroom storing and issuing policy meaning, "last in, first out."
What is LIFO?
200
A system of planning and controls used by management to ensure the business accomplishes its goals.
What are the Siamese Twins of Management?
300
The study of morality, what is right or wrong.
What is ethics?
300
This person supervises and coordinates the activities of all storeroom employees, including the ordering, receiving, storing, inventorying, issuing, and delivering of the food, materials, supplies, tools, and equipment.
What is the storeroom manager?
300
The costs that do not vary with the number of goods or meals produced or sold.
What is a fixed cost?
300
Also known as virtual inventory, a count of stock that is supposed to be on the shelves in the storeroom.
What is perpetual inventory?
300
Purposely misleading the buyer, by a vendor, by delivering inferior products to those which were ordered, shorting the deliveries by weight or count, or billing for products neither sold nor ordered.
What is vendor dishonesty?
400
Statements that affirm a commitment to: -Fair prices and good value -Good food and good service -Good health and welfare of employees and customers -Fair treatment of employees -Honest relationships with purveyors -Honest relationships with community -Respect for the environment
What is a code of ethics?
400
Nutritional value
What is the primary purpose of food?
400
A cost that is common to a number of costing objects but cannot be easily traced to them individually. Also known as joint costs.
What is a common cost?
400
Also known as periodic or actual, inventory done in the storeroom and coolers.
What is physical inventory?
400
Both raw and prepared products are used in multiple fashions.
What is cross-utilization?
500
A Win-Win Approach (mutually beneficial)
What is Buyer/Seller Relations?
500
The circulation of goods in the marketplace.
What is distribution?
500
Payroll costs, including salaries, wages, and employee benefits.
What is a labor cost?
500
A statement of the book value of a business at a certain date in time, often at the end of the fiscal year.
What is a balance sheet?
500
1. Establish standards and standard procedures for operation. 2. Train all individuals to follow established standards and standard procedures. 3. Monitor performance and compare actual performances with established standards. 4. Take appropriate action to correct deviations from standards.
What is the four steps of a control process?