Question 1

A manager creates a 6-month staff salary budget. How much of the salary budget can this manager spend each month and still stay within the budget?

Accepted Answer

A)  15.50% 
B)  16.67% 
C)  17.50% 
D)  18.67% 
A)  15.50% 
B)  16.67% 
C)  17.50% 
D)  18.67% B

Question 2

Last month a manager's food expense equaled $30,000. Labor expense for the month equaled $26,000, and other expenses equaled $12,000. Revenue for the month was $85,000. What was this manager's total expense percentage?

Accepted Answer

A)  40% 
B)  45% 
C)  80% 
D)  85% 
A)  40% 
B)  45% 
C)  80% 
D)  85% C

Question 3

Complete the formula: Revenue - Desired Profit =

Accepted Answer

A)  Food Cost 
B)  Cost of Sales 
C)  Ideal Expense 
D)  Other Expense 
A)  Food Cost 
B)  Cost of Sales 
C)  Ideal Expense 
D)  Other Expense C

Question 4

The sign of a good foodservice manager is that his or her actual costs are consistently lower than the amounts indicated in their budgets.

Accepted Answer

A) True 
 B)False

Question 5

Which is a major foodservice expense category all managers must learn to control?

Accepted Answer

A)  Taxes 
B)  Revenue 
C)  Labor costs 
D)  Union costs 
A)  Taxes 
B)  Revenue 
C)  Labor costs 
D)  Union costs

Question 6

What is the Profit achieved by The Tampopo Noodle House?

Accepted Answer

A)  $50,000 
B)  $75,000 
C)  $100,000 
D)  $125,000 
A)  $50,000 
B)  $75,000 
C)  $100,000 
D)  $125,000

Question 7

What is the Total Expense amount for The Tampopo Noodle House?

Accepted Answer

A)  $600,000 
B)  $650,000 
C)  $700,000 
D)  $750,000 
A)  $600,000 
B)  $650,000 
C)  $700,000 
D)  $750,000

Question 8

Ideal expense in a foodservice operation is management's view of the proper amount of expense needed to produce a specific amount of sales.

Accepted Answer

A) True 
 B)False

Question 9

If a budget was accurate, and the foodservice operator is within reasonable limits of the budget he or she is said to be "in line" with the budget.

Accepted Answer

A) True 
 B)False

Question 10

A manager has food sales of $40,000 and food expenses of $10,000 in an accounting period. This manager achieved a food cost of 40% for the period.

Accepted Answer

A) True 
 B)False

Question 11

What is the first step in the Five-step management process?

Accepted Answer

A)  Controlling 
B)  Planning 
C)  Directing 
D)  Organizing 
A)  Controlling 
B)  Planning 
C)  Directing 
D)  Organizing

Question 12

What is a term that means the same thing as a foodservice operation's revenues?

Accepted Answer

A)  The sales dollars the operation achieves 
B)  The amount of profit the operation achieves 
C)  The cost of all the items required to operate the business 
D)  The dollars that remain after all the operation's expenses have been paid 
A)  The sales dollars the operation achieves 
B)  The amount of profit the operation achieves 
C)  The cost of all the items required to operate the business 
D)  The dollars that remain after all the operation's expenses have been paid

Question 13

Professional foodservice managers are different from many other managers who manufacture products because foodservice managers

Accepted Answer

A)  supervise staff. 
B)  purchase raw ingredients. 
C)  have contact with the ultimate consumer. 
D)  are responsible for achieving organizational goals. 
A)  supervise staff. 
B)  purchase raw ingredients. 
C)  have contact with the ultimate consumer. 
D)  are responsible for achieving organizational goals.

Question 14

A foodservice operation's revenue will vary with both the number of guests visiting the business and the amount of money spent by each guest.

Accepted Answer

A) True 
 B)False

Question 15

What is the formula managers use to calculate a foodservice operation's profits?

Accepted Answer

A)  Revenue - Expense = Profits 
B)  Revenue + Expenses = Profits 
C)  Sales + Food cost - Labor cost = Profits 
D)  Sales + Food cost + Labor cost = Profits 
A)  Revenue - Expense = Profits 
B)  Revenue + Expenses = Profits 
C)  Sales + Food cost - Labor cost = Profits 
D)  Sales + Food cost + Labor cost = Profits

Question 16

Foodservice managers most often face a fewer variety of challenges in their jobs than do managers of manufacturing operations.

Accepted Answer

A) True 
 B)False

Question 17

To make all of their budget periods equal, some foodservice managers create budgets consisting of

Accepted Answer

A)  7 days. 
B)  21 days. 
C)  28 days. 
D)  30 days. 
A)  7 days. 
B)  21 days. 
C)  28 days. 
D)  30 days.

Question 18

When significant variations from planned results occur foodservice managers must

Accepted Answer

A)  determine the cause, identify the problem, and take corrective action. 
B)  take corrective action, determine the cause, and identify the problem. 
C)  identify the problem, take corrective action, and determine the cause. 
D)  identify the problem, determine the cause, and take corrective action. 
A)  determine the cause, identify the problem, and take corrective action. 
B)  take corrective action, determine the cause, and identify the problem. 
C)  identify the problem, take corrective action, and determine the cause. 
D)  identify the problem, determine the cause, and take corrective action.

Question 19

If the desired profit for The Tampopo Noodle House was 15% of sales, what amount of profit should it have achieved on revenue of $800,000?

Accepted Answer

A)  $100,000 
B)  $120,000 
C)  $140,000 
D)  $160,000 
A)  $100,000 
B)  $120,000 
C)  $140,000 
D)  $160,000

Question 20

What is the profit percentage achieved by The Tampopo Noodle House?

Accepted Answer

A)  6.25% 
B)  12.50% 
C)  37.50% 
D)  50.25% 
A)  6.25% 
B)  12.50% 
C)  37.50% 
D)  50.25%

A manager creates a 6-month staff salary budget. How much of the salary budget can this manager spend each month and still stay within the budget?

Last month a manager's food expense equaled $30,000. Labor expense for the month equaled $26,000, and other expenses equaled $12,000. Revenue for the month was $85,000. What was this manager's total expense percentage?

Complete the formula: Revenue - Desired Profit =

The sign of a good foodservice manager is that his or her actual costs are consistently lower than the amounts indicated in their budgets.

Which is a major foodservice expense category all managers must learn to control?

What is the Profit achieved by The Tampopo Noodle House?

What is the Total Expense amount for The Tampopo Noodle House?

Ideal expense in a foodservice operation is management's view of the proper amount of expense needed to produce a specific amount of sales.

If a budget was accurate, and the foodservice operator is within reasonable limits of the budget he or she is said to be "in line" with the budget.

A manager has food sales of $40,000 and food expenses of $10,000 in an accounting period. This manager achieved a food cost of 40% for the period.

What is the first step in the Five-step management process?

What is a term that means the same thing as a foodservice operation's revenues?

Professional foodservice managers are different from many other managers who manufacture products because foodservice managers

A foodservice operation's revenue will vary with both the number of guests visiting the business and the amount of money spent by each guest.

What is the formula managers use to calculate a foodservice operation's profits?

Foodservice managers most often face a fewer variety of challenges in their jobs than do managers of manufacturing operations.

To make all of their budget periods equal, some foodservice managers create budgets consisting of

When significant variations from planned results occur foodservice managers must

If the desired profit for The Tampopo Noodle House was 15% of sales, what amount of profit should it have achieved on revenue of $800,000?

What is the profit percentage achieved by The Tampopo Noodle House?

Creating Sales Forecasts

Purchasing and Receiving

Managing Inventory and Production

Monitoring Food and Beverage Product Costs

Managing Food and Beverage Pricing

Managing the Cost of Labor

Controlling Other Expenses

Analyzing Results Using the Income Statement

Planning for Profit

Maintaining and Improving the Revenue Control System

Filters

Exam 1: Managing Revenue and Expense

A manager creates a 6-month staff salary budget. How much of the salary budget can this manager spend each month and still stay within the budget?

Last month a manager's food expense equaled $30,000. Labor expense for the month equaled $26,000, and other expenses equaled $12,000. Revenue for the month was $85,000. What was this manager's total expense percentage?

Complete the formula: Revenue - Desired Profit =

The sign of a good foodservice manager is that his or her actual costs are consistently lower than the amounts indicated in their budgets.

Which is a major foodservice expense category all managers must learn to control?

What is the Profit achieved by The Tampopo Noodle House?

What is the Total Expense amount for The Tampopo Noodle House?

Ideal expense in a foodservice operation is management's view of the proper amount of expense needed to produce a specific amount of sales.

If a budget was accurate, and the foodservice operator is within reasonable limits of the budget he or she is said to be "in line" with the budget.

A manager has food sales of $40,000 and food expenses of $10,000 in an accounting period. This manager achieved a food cost of 40% for the period.

What is the first step in the Five-step management process?

What is a term that means the same thing as a foodservice operation's revenues?

Professional foodservice managers are different from many other managers who manufacture products because foodservice managers

A foodservice operation's revenue will vary with both the number of guests visiting the business and the amount of money spent by each guest.

What is the formula managers use to calculate a foodservice operation's profits?

Foodservice managers most often face a fewer variety of challenges in their jobs than do managers of manufacturing operations.

To make all of their budget periods equal, some foodservice managers create budgets consisting of

When significant variations from planned results occur foodservice managers must

If the desired profit for The Tampopo Noodle House was 15% of sales, what amount of profit should it have achieved on revenue of $800,000?

What is the profit percentage achieved by The Tampopo Noodle House?

Creating Sales Forecasts

Purchasing and Receiving

Managing Inventory and Production

Monitoring Food and Beverage Product Costs

Managing Food and Beverage Pricing

Managing the Cost of Labor

Controlling Other Expenses

Analyzing Results Using the Income Statement

Planning for Profit

Maintaining and Improving the Revenue Control System

Filters