It costs an operation $3.00 to produce a menu item. The operation sells the item for $12.00. As a result, the food cost percentage for this item is 20%.

What is the final step in the 4-step process used to manage payroll costs?

Product cost percentage and product contribution margin are the two primary methods used to establish foodservice prices.

Managers use standardized recipe cost sheets to calculate their total recipe costs and their individual portion costs.

Value pricing refers to the strategy of reducing prices on selected menu items for the purpose of increasing an operation’s total sales revenue.

An operation’s Beginning Inventory for an accounting period equaled $15,000. Ending Inventory for the period equaled $14,000, Purchases equaled $21,500 and Total Cost of Sales was $21,000. What was the amount of this operation’s Employee Meals in the period?

A manager forecasts that 80 servings of Sea Bass will be sold today. The operation has carried over 15 usable servings of sea bass from yesterday and the manager wishes to maintain a margin of error of 5 servings. What should be the number of Sea Bass portions produced today?

A beverage manager takes inventory and finds that, for a specific brand of gin, there are three full bottles and one bottle that is 4/10 full. The value of the gin is $25.50 per bottle. What will be the inventory value assigned to this brand of gin?

A six-column form can be used to estimate an operation’s food cost percentage on a daily or weekly basis.

Mystery shoppers in the food service industry must