Exam 10: Determining Cost Percentages and Pricing the Menu

Determine the menu price for the following. Round to the nearest cent. The raw food cost is $4.10, and the markup rate is 42%. $_______________

When a restaurant owner multiplies the cost of the raw food by a number that corresponds to the food cost percentage goal, the owner is using a system called the ____________________ ____________________.

When multiplying or dividing with percents, it is best to convert the percent to its decimal equivalent. This is done by removing the percent sign (%) and moving the decimal point two places to the right.

Determine the menu price for the following. Round to the nearest cent. The raw food price is $3.63, and the markup rate is 70%. $_______________

Using the Chef's Magic Circle, complete the following. Round percent answers to the nearest hundredth and money answers to the nearest cent. Food Cost: $2,632 Food Cost Percent: 31.1% Sales Price: $_______________

Using the Chef's Magic Circle, complete the following. Round percent answers to the nearest hundredth and money answers to the nearest cent. Sales Price: $1,908 Food Cost Percent: 33.5% Food Cost: $_______________

A daily labor cost report should be generated each day for the manager's review.

Using the Chef's Magic Circle, complete the following. Round percent answers to the nearest hundredth and money answers to the nearest cent. Sales Price: $16.00 Food Cost: $4.90 Food Cost Percent: _______________%

____________________ ____________________ are defined as the total moneys needed to pay all the required employees to create, make, and serve food to the guests.

Which of the following is not included on a daily food cost report?

Menu or selling price = raw food cost + food cost percent.

Determine the menu price for the following. Round to the nearest cent. The raw food cost is $5.90, and the markup rate is . $_______________

Which of the following is not a method to price a menu?

____________________ ____________________ are the moneys spent to prepare any and all products used in an individual recipe or an entire meal.

Determine the menu price for the following. Round to the nearest cent. The raw food cost is $3.47, and a 27% food cost is desired. $_______________

Round percents to the nearest hundredth of a percent. The daily sales are $4,750. Find the daily labor cost percentage if the Chef makes $1,140 a week and works six days a week. _______________%

One of the tools that is used to control the cost and use of food is the ____________________ ____________________ ____________________ report.

One of the tools that is used to control the cost and use of food is the profit and loss statement, the purpose of which is to show management the exact cost and amount of food used on any given day.

_____ are those foods that are usually purchased each day or every other day. They include produce, dairy products, fresh seafood, bread, rolls, and any other items that are considered perishable.