Question 1

Let us assume that your records show $2,500 in food sales and $750 cost of goods consumed. What is the percentage of cost of goods consumed?

Accepted Answer

A)  30% 
B)  40% 
C)  25% 
D)  29% 
A)  30% 
B)  40% 
C)  25% 
D)  29% A

Question 2

You get the ideal menu price by dividing the cost of ingredients by the targeted cost percentage.

Accepted Answer

A) True 
 B)False  True

Question 3

To determine unit cost, take the case cost of an item and divide it by the yield percentage. Then divide that result by the number of recipe units per case (Column 10 on the inventory worksheet).

Accepted Answer

A) True 
 B)False  True

Question 4

The as-purchased price is your inventory cost and is not altered by yield percentages.

Accepted Answer

A) True 
 B)False

Question 5

What is the equivalent weight of the following items?
Common Unit Name Abbreviation Equivalent
pound WZ ___________?
gallon FZ ___________?
#10 can FZ ___________?
quart FZ ___________?

Accepted Answer

Common Unit Name Abbreviation

Question 6

Having an actual food cost percentage below the potential food cost percentage demonstrates that the Chef is doing an excellent job.

Accepted Answer

A) True 
 B)False

Question 7

Although manual cost control systems are typically more time-consuming than computerized systems, they can be just as accurate.

Accepted Answer

A) True 
 B)False

Question 8

Another factor affecting production losses is recipe accuracy. Each recipe must be both tested and standardized.

Accepted Answer

A) True 
 B)False

Question 9

Using the information provided, calculate how many purchase units would be needed to prepare a roast beef dinner serving 600 customers. Menu Item Purchase Unit Portion Size Edible Yield %
Beef 1 pound 6 oz. 80%

Accepted Answer

A)  280 pounds 
B)  282 pounds 
C)  290 pounds 
D)  300 pounds 
A)  280 pounds 
B)  282 pounds 
C)  290 pounds 
D)  300 pounds

Question 10

Actual cost means the ideal amount your company wants to spend; it is your goal, or what you have budgeted to spend.

Accepted Answer

A) True 
 B)False

Question 11

How do you derive the cost of goods used?

Accepted Answer

Start with beginning inventory

Question 12

What is actual food cost?

Accepted Answer

Actual food cost is the most c

Question 13

Assuming the menu contains items with various cost percentages, which of the following can be calculated prior to sales?

Accepted Answer

A)  potential cost percentage 
B)  actual cost percentage 
C)  targeted cost percentage 
D)  both "potential cost percentage" and "targeted cost percentage" 
A)  potential cost percentage 
B)  actual cost percentage 
C)  targeted cost percentage 
D)  both "potential cost percentage" and "targeted cost percentage"

Question 14

Assume that your beginning food inventory is $1,000. You've purchased $600 of goods and transferred $100 between departments. Your ending inventory is $950. What is the cost of goods consumed or used?

Accepted Answer

A)  $900 
B)  $750 
C)  $950 
D)  $650 
A)  $900 
B)  $750 
C)  $950 
D)  $650

Question 15

Use of the term "ounce" in recipes requires a designation as fluid or weight.

Accepted Answer

A) True 
 B)False

Question 16

Potential cost is what you actually spend on the product.

Accepted Answer

A) True 
 B)False

Question 17

Using the information provided, calculate the number of pounds needed to serve a forecasted weekly customer count of 3,200 covers. Item Standard Portion Edible Yield % Menu Mix
Steak 12 oz. 75% 32%

Accepted Answer

A)  980 
B)  1,050 
C)  1,000 
D)  1,024 
A)  980 
B)  1,050 
C)  1,000 
D)  1,024

Question 18

actual food cost =   =   = 30%
-Define potential or theoretical cost.

Accepted Answer

Potential or theoretical cost

Question 19

In a perfect world the potential cost will not be equal to the actual cost, but as there is no such thing as a perfect world, there will always be no differences between potential cost and actual cost.

Accepted Answer

A) True 
 B)False

Question 20

Why is important to update potential cost calculation?

Accepted Answer

Each time you purchase something new, yo

Let us assume that your records show $2,500 in food sales and $750 cost of goods consumed. What is the percentage of cost of goods consumed?

You get the ideal menu price by dividing the cost of ingredients by the targeted cost percentage.

To determine unit cost, take the case cost of an item and divide it by the yield percentage. Then divide that result by the number of recipe units per case (Column 10 on the inventory worksheet).

The as-purchased price is your inventory cost and is not altered by yield percentages.

What is the equivalent weight of the following items? Common Unit Name Abbreviation Equivalent pound WZ _____? gallon FZ _? #10 can FZ _? quart FZ _____?

Having an actual food cost percentage below the potential food cost percentage demonstrates that the Chef is doing an excellent job.

Although manual cost control systems are typically more time-consuming than computerized systems, they can be just as accurate.

Another factor affecting production losses is recipe accuracy. Each recipe must be both tested and standardized.

Using the information provided, calculate how many purchase units would be needed to prepare a roast beef dinner serving 600 customers. Menu Item Purchase Unit Portion Size Edible Yield % Beef 1 pound 6 oz. 80%

Actual cost means the ideal amount your company wants to spend; it is your goal, or what you have budgeted to spend.

How do you derive the cost of goods used?

What is actual food cost?

Assuming the menu contains items with various cost percentages, which of the following can be calculated prior to sales?

Assume that your beginning food inventory is $1,000. You've purchased $600 of goods and transferred $100 between departments. Your ending inventory is $950. What is the cost of goods consumed or used?

Use of the term "ounce" in recipes requires a designation as fluid or weight.

Potential cost is what you actually spend on the product.

Using the information provided, calculate the number of pounds needed to serve a forecasted weekly customer count of 3,200 covers. Item Standard Portion Edible Yield % Menu Mix Steak 12 oz. 75% 32%

actual food cost = = = 30% -Define potential or theoretical cost.

In a perfect world the potential cost will not be equal to the actual cost, but as there is no such thing as a perfect world, there will always be no differences between potential cost and actual cost.

Why is important to update potential cost calculation?

Overview of the Industry and the Managers Role

Menu Development

Introduction to Purchasing

Purchase Specifications

Price and the Vendor

Purchasing Controls

Introduction to Beverages

Beverage Procedures, From Start to Finish

Beverage Controls and Service Procedures

Monthly Physical Inventory and Monthly Food Cost Calculations

Revenue and Cash Handling Control

Menu Analysis and Planning for Sales

Staff Planning and Labor Cost Control

Analyzing Cost-Volume-Profit Cvp Relationships and Marginal Contribution Break-Even MCB

Budgeting and Manager ROI

Filters

Exam 10: Planning for Food Profit and Controls

Let us assume that your records show $2,500 in food sales and $750 cost of goods consumed. What is the percentage of cost of goods consumed?

You get the ideal menu price by dividing the cost of ingredients by the targeted cost percentage.

To determine unit cost, take the case cost of an item and divide it by the yield percentage. Then divide that result by the number of recipe units per case (Column 10 on the inventory worksheet).

The as-purchased price is your inventory cost and is not altered by yield percentages.

What is the equivalent weight of the following items? Common Unit Name Abbreviation Equivalent pound WZ ___________? gallon FZ ___________? #10 can FZ ___________? quart FZ ___________?

Having an actual food cost percentage below the potential food cost percentage demonstrates that the Chef is doing an excellent job.

Although manual cost control systems are typically more time-consuming than computerized systems, they can be just as accurate.

Another factor affecting production losses is recipe accuracy. Each recipe must be both tested and standardized.

Using the information provided, calculate how many purchase units would be needed to prepare a roast beef dinner serving 600 customers. Menu Item Purchase Unit Portion Size Edible Yield % Beef 1 pound 6 oz. 80%

Actual cost means the ideal amount your company wants to spend; it is your goal, or what you have budgeted to spend.

How do you derive the cost of goods used?

What is actual food cost?

Assuming the menu contains items with various cost percentages, which of the following can be calculated prior to sales?

Assume that your beginning food inventory is $1,000. You've purchased $600 of goods and transferred $100 between departments. Your ending inventory is $950. What is the cost of goods consumed or used?

Use of the term "ounce" in recipes requires a designation as fluid or weight.

Potential cost is what you actually spend on the product.

Using the information provided, calculate the number of pounds needed to serve a forecasted weekly customer count of 3,200 covers. Item Standard Portion Edible Yield % Menu Mix Steak 12 oz. 75% 32%

actual food cost = = = 30% -Define potential or theoretical cost.

In a perfect world the potential cost will not be equal to the actual cost, but as there is no such thing as a perfect world, there will always be no differences between potential cost and actual cost.

Why is important to update potential cost calculation?

Overview of the Industry and the Managers Role

Menu Development

Introduction to Purchasing

Purchase Specifications

Price and the Vendor

Purchasing Controls

Introduction to Beverages

Beverage Procedures, From Start to Finish

Beverage Controls and Service Procedures

Monthly Physical Inventory and Monthly Food Cost Calculations

Revenue and Cash Handling Control

Menu Analysis and Planning for Sales

Staff Planning and Labor Cost Control

Analyzing Cost-Volume-Profit Cvp Relationships and Marginal Contribution Break-Even MCB

Budgeting and Manager ROI

Filters

What is the equivalent weight of the following items? Common Unit Name Abbreviation Equivalent pound WZ _____? gallon FZ _? #10 can FZ _? quart FZ _____?