Deck 9: Calculating Actual Food and Beverage Costs

Question 1

Given the following information, use the FIFO method to calculate the value of the inventory at the end of the month. $\begin{array} {ll}\text {Beginning Inventory} &\text {35 cases @ \$20/case}\\\text {Purchases}&20 cases@\text {\$22/case}\\\text {Ending Inventory }&\text {25 cases}\\\end{array}$

A) $500
B) $540
C) $550
D) $640

Answer 1

$540

Question 2

Given the following information, use the LIFO method to calculate the value of the inventory at the end of the month. $\begin{array} {ll}\text {Beginning Inventory} &\text {40 cases @ \$20/case}\\\text {Purchases}&20 cases@\text {\$22/case}\\\text {Ending Inventory }&\text {30 cases}\\\end{array}$

A) $600
B) $620
C) $640
D) $660

Answer 2

$600

Question 3

Which of the following adjustments increases the cost of food sold for a given month?

A) food transfers from the kitchen to the bar
B) costs of employee meals
C) the value of complimentary meals
D) transfers from the bar to the kitchen

Answer 3

D

Question 4

Which of the following types of food purchases would most likely be charged to food costs on the day they are received?

A) poultry
B) flour
C) dairy products
D) frozen seafood

Question 5

Given the following information, calculate the adjusted net cost of sales. $\begin{array}{lc}\text { Beginning Inventory } & \$ 80,000 \\\text { Purchases } & \$ 40,000\\\text { Food Transfers } & \$ 1,000 \\\text { Employee Meals } & \$ 250 \\\text { Ending Inventory } & \$ 60,000\end{array}$

A) $40,000
B) $58,750
C) $60,000
D) $61,250

Question 6

Which of the following types of food purchases would most likely be stored and charged to food costs as they are issued?

A) poultry
B) fresh produce
C) bakery products
D) dairy products

Question 7

Given the following information, use the weighted average method to calculate the value of the inventory at the end of the month. $\begin{array} {ll}\text {Beginning Inventory} &\text {35 cases @ \$20/case}\\\text {Purchases}&20 cases@\text {\$22/case}\\\text {Ending Inventory }&\text {25 cases}\\\end{array}$

A) $500.00
B) $518.25
C) $550.00
D) $621.90

Question 8

Given the following information, use the FIFO method to calculate the value of the inventory at the end of the month.

A) $700
B) $750
C) $760
D) $770

Question 9

Given the following information, calculate the dollar amount of purchases made during the month

A) $60,000
B) $70,000
C) $90,000
D) $100,000

Question 10

Providing a high level of security and accurate beverage information tracking, ______________ count and record -by number of portions-the total amount of all beverages run through the system during a specific shift.

A) automated dispensing systems
B) wireless scanning systems
C) digital scale systems
D) electronic sensing systems