Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. Using the food cost percent method, what is the sales price of a veal entre if the restaurant Food Cost is 33% and

a. Using the food cost percent method, what is the sales price of a veal entrée if the restaurant Food Cost is 33% and the co

What is prime cost and how is it calculated? (3 marks) Why is it a useful tool in managing a restaurant? (2 marks) 

a. Using the food cost percent method, what is the sales price of a veal entre if the restaurant Food Cost is 33% and the cost per portion is $6.00(3 marks) b. Each month a restaurant has gross profit of $4000 and serves 1,000 customers. A sandwich cost $1.50 per portion. Using the gross profit method, determine sale price for the sandwich. (3 marks) CA restaurant uses a price factor of 3.2. Chicken roulade costs $1.98 per portion with a direct labor cost of $1.85. Determine sales price using the prime cost method. Please show your work (3 marks) What is prime cost and how is it calculated? (3 marks) Why is it a useful tool in managing a restaurant? (2 marks)

Step by Step Solution

3.33 Rating (132 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial accounting

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

1st edition

471467855, 978-0471467854

More Books

Students also viewed these Accounting questions

Question

What is the sales price variance?

Answered: 1 week ago

Question

Should we have a regular meeting time and place?

Answered: 1 week ago