Assignment is due no later than 11:59pm ET on Thursday March 9 th , 2023 and is
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Assignment is due no later than 11:59pm ET on Thursday March 9th, 2023 and is to be submitted through Learn @ Seneca (formerly Blackboard) in a .DOC or .DOCX file format. Do not include the questions in your submission (the chart is ok to submit). Any submission that includes the questions will be subject to a 20% penalty. Dollar amounts must be rounded to 2 decimal places and include a dollar sign. You may include the first chart in your submission.
- Complete the following chart. The number of Flank Steak sold is the First 4 digits of your student ID number. The menu price of the Fish Tacos, Chicken Paillard, Turkey Club and Chicken Wings are the first 4 digits of your student number. Divide the first 4 digits by 100 to convert it into a dollar amount.(12 Marks)
Menu Item | Number Sold | Menu Mix % | Menu Price $ | Item Food Cost | Item CM | Gross Margin | CM Category | MM% Category | Classification |
Veggie Bowl | 1350 | $15.50 | $ 2.96 | ||||||
Flank Steak | $19.50 | $ 6.37 | |||||||
Chicken Paillard | 1523 | $ | $ 2.74 | ||||||
Fish Tacos | 1680 | $ | $ 3.48 | ||||||
Turkey Club | 1584 | $ | $ 2.90 | ||||||
Chicken Wings | 1250 | $ | $ 3.07 | ||||||
Total | |||||||||
Average Menu Mix % = (1/#items) x 70% | Avg CM = |
- Once you have classified each menu item from part 1, explain what actions should be taken with each item and why. I recommend graphing each item (as was shown in the week 7 session) to help you. (18 Marks)
- Suppose you have the following 5 items on your menu:
Item | Food/Beverage Cost ($) |
Coffee | $0.26 |
10oz Kobe Striploin | $85 |
Ham Sandwich | $1.82 |
Spaghetti | $3.47 |
House Wine Bottle | $20 |
Using the information learned from class and from the pricing module, calculate an appropriate selling price for each of the items listed above. (10 Marks)
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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