1. All other things being equal, would you rather sell $100 of beer or $100 of steak? Explain 2. Considering the following items, which would generate the highest gross profit percentage in each pair? a. Draft or bottled beer. b. Popcom at a movie theater or Lobster at a seafood restaurant c Whiskey at a hotel bar or whiskey at a small neighborhood bar d. A bottle of water at a sporting event or a bottle of water at a bodega e. Pizza or Steak 3. Considering the following is the change in the restaurant's cost of food sold favorable or unfavorable? (for this, figure out the food cost percentage for both the actual and budget and compare them to get your answer) Budget Increase (decrease) Sales 120,000 100,000 20,000 Food Cost 33,600 30.000 3,600 Actual Explain 4. Individual menu items are competitively priced differently, determine the food cost percentage of each of these dishes a. Rib eye steak with a food cost of $20 and menu price of $40 b. Spaghetti and Meatballs with a food cost of 54 and menu price of $20 c A glass of iced tea with a food cost of 10 cents and menu price of $5 d. A glass of wine with a food cost of $3 and a menu price of $15 5. What does it signify if a restaurant's "Prime Cost" is 70% or more? Explain 6. Consider the following results: Restaurant Sales: $100,000 Food cost 95 32% Wages $35,000 other expenses $20,000 What is the restaurant's GROSS PROFIT What is the restaurant's NET PROFIT in Dollars What is the restaurant's NET PROFIT in Are the results within an acceptable range? Explain 1. All other things being equal, would you rather sell $100 of beer or $100 of steak? Explain 2. Considering the following items, which would generate the highest gross profit percentage in each pair? a. Draft or bottled beer. b. Popcom at a movie theater or Lobster at a seafood restaurant c Whiskey at a hotel bar or whiskey at a small neighborhood bar d. A bottle of water at a sporting event or a bottle of water at a bodega e. Pizza or Steak 3. Considering the following is the change in the restaurant's cost of food sold favorable or unfavorable? (for this, figure out the food cost percentage for both the actual and budget and compare them to get your answer) Budget Increase (decrease) Sales 120,000 100,000 20,000 Food Cost 33,600 30.000 3,600 Actual Explain 4. Individual menu items are competitively priced differently, determine the food cost percentage of each of these dishes a. Rib eye steak with a food cost of $20 and menu price of $40 b. Spaghetti and Meatballs with a food cost of 54 and menu price of $20 c A glass of iced tea with a food cost of 10 cents and menu price of $5 d. A glass of wine with a food cost of $3 and a menu price of $15 5. What does it signify if a restaurant's "Prime Cost" is 70% or more? Explain 6. Consider the following results: Restaurant Sales: $100,000 Food cost 95 32% Wages $35,000 other expenses $20,000 What is the restaurant's GROSS PROFIT What is the restaurant's NET PROFIT in Dollars What is the restaurant's NET PROFIT in Are the results within an acceptable range? Explain