3. PARTI: The recipe below for Beef Tenderloin Tips yields eight 10 oz. portions. Complete the...

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3. PARTI: The recipe below for Beef Tenderloin Tips yields eight 10 oz. portions. Complete the extension (all columns) to answer the following questions. You need to convert the recipe to yield forty 9 oz. portions. a. Calculate the conversion factor to yield forty 9 oz. portions. b. Use the conversion factor to make the necessary changes to the recipe. c. Use the unit prices to determine the converted (40 portions) recipe cost. d. Determine the total recipe and portion cost. PART II: Top round normally costs $2.89/pound. After a yield test, you find that a 10 oz. steak really costs you $2.25 to produce. e. What is the % loss factor for top round steak? f. What is the % product yield for top round steak? g. What should you sell the 10 oz. steak for to maintain a 35% food cost? h. Top round goes up to $3.19/pound. Based on the previous yield test results, what is the new production cost of the 10 oz. steak? i. Based on the above change (h) in cost, what would the new selling price have to be to maintain a 35% food cost? PART III: j. November 30 ending inventory was $5000. December 31 inventory is $4500. Purchases for the month of December were $8500. Sales for December were $30,000. What was December food cost percentage? k. Calculate inventory turnover for the month of December using the figures above. 3. PARTI: The recipe below for Beef Tenderloin Tips yields eight 10 oz. portions. Complete the extension (all columns) to answer the following questions. You need to convert the recipe to yield forty 9 oz. portions. a. Calculate the conversion factor to yield forty 9 oz. portions. b. Use the conversion factor to make the necessary changes to the recipe. c. Use the unit prices to determine the converted (40 portions) recipe cost. d. Determine the total recipe and portion cost. PART II: Top round normally costs $2.89/pound. After a yield test, you find that a 10 oz. steak really costs you $2.25 to produce. e. What is the % loss factor for top round steak? f. What is the % product yield for top round steak? g. What should you sell the 10 oz. steak for to maintain a 35% food cost? h. Top round goes up to $3.19/pound. Based on the previous yield test results, what is the new production cost of the 10 oz. steak? i. Based on the above change (h) in cost, what would the new selling price have to be to maintain a 35% food cost? PART III: j. November 30 ending inventory was $5000. December 31 inventory is $4500. Purchases for the month of December were $8500. Sales for December were $30,000. What was December food cost percentage? k. Calculate inventory turnover for the month of December using the figures above.

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3 PART I a 40 8 5 b 40 portions 5 200 grams c 40 po... View the full answer