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Exam 10: Determining Cost Percentages and Pricing the Menu

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Question 1

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____________________ ____________________ ____________________ is the cost of the food as it relates to the amount of dollars received in sales.

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Food cost ...

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Question 2

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Determine the menu price for the following. Round to the nearest cent. What is the menu price using the multiplier of 2.9 if the raw food cost is $6.06? $_______________

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Using the Chef's Magic Circle, complete the following. Round percent answers to the nearest hundredth and money answers to the nearest cent. In July, The Yellow Submarine Restaurant calculated a revenue of $59,970 with a 30.00% food cost percentage for the month. What were their food costs for the month? $_______________

Raw food cost * markup rate = markup amount

Round percents to the nearest hundredth of a percent. The total cost of all food purchased for the day is $2,810. The total sales is $4,055 for the day. Find the daily food cost percentage. _______________%

Which of the following is not considered when establishing a menu price?

Match the following chapter terms with their definition.

Match the following chapter terms with their definition.

If the markup is figured by using percent, the menu or selling price of an item is determined by _____.

_____ is the cost of the food as it relates to the amount of dollars received in sales. _____ is the cost of labor as it relates to the amount of dollars received in sales.

The _____ is a detailed list of food served in a food service establishment.

The multiplier effect works on the principle of food cost percentage, but instead of dividing, the restaurant owner multiplies the cost of the raw food by a number that corresponds to the food cost percentage goal.

Match the following chapter terms with their definition.

Determine the menu price for the following. Round to the nearest cent. The raw food cost is $5.75, and a 45% food cost is desired. $_______________

Match the following chapter terms with their definition.

____________________ is the money added to raw food cost to obtain a menu price.

____________________ ____________________ ____________________ is the cost of labor as it relates to the amount of dollars received in sales.

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: $15.54 Food Cost Percent: 13% Food Cost: $_______________

The three methods that can be used to price the menu-amount of markup using a percent, labor cost percent, and multiplier effect-will all yield the same final menu price.

Markup is the money added to raw food cost to obtain the markup amount.