A restaurant budgets for a standard weekly labor cost of $4,730, and a forecast sales figure of
Question:
A restaurant budgets for a standard weekly labor cost of $4,730, and a forecast sales figure of $14,800. The actual weekly labor cost this week was $5,028, and the actual sales were $15,862. Calculate the standard and the actual labor cost percent for this week.
14) A restaurant has a monthly food cost of $6,248, a monthly labor cost of $7,370, and monthly sales of $25,379 (all in the same month). What is the prime cost and prime cost percent for this month in the restaurant? _________________ _______________________
15( In July last year, a restaurant had 3,742 customers. Management expects a 3.8% increase in customers this July over last July. If the current check average is $31.06, calculate the number of customers and the amount of sales revenue management expects this July. _______________ ________________
16) List three examples of qualitative data that might cause a manager to adjust an initial customer forecast.
________________ __________________ ______________________
17) In a certain café, only about 84% of customers order entrées for dinner. Of those, 18.7% consistently order the steak frites. If the forecast for dinner tomorrow is 106 customers, how many orders of steak frites should the chef expect to sell? __________________
18) Using the chart below, identify each appetizer as high or low popularity and high or low profitability. (CM = contribution margin)
Menu Item | Number Sold | Sales Price | Food Cost | Item CM | Menu CM | Popular (H/L) | Profitable (H/L) | ||||
Wings | 105 | $5.95 | $2.27 | ||||||||
Sliders | 153 | $6.50 | $1.98 | ||||||||
Potato Skins | 82 | $4.95 | $1.47 | ||||||||
Shrimp | 35 | $7.95 | $2.14 | ||||||||
Salad | 59 | $6.25 | $2.56 | ||||||||
Total | |||||||||||
Average count | |||||||||||
Popularity Benchmark | |||||||||||
Average Weighted CM | |||||||||||
Complete the Food Sales Reconciliation Form below. Identify the item (in the notes column) that requires investigation.
Kitchen Production | ||||||
Food Name | Portions on Hand | Portions Prepared | Additional Preparation | Total Available | Leftovers | Portions Consumed |
Cookie | 3 | 15 | 0 | 2 | ||
Pie | 8 | 16 | 0 | 3 | ||
Sundae | 0 | 20 | 2 | 0 | ||
Sales Accounting | ||||||
Food Name | Portions Sold | Voids | Total Output | Portions Consumed | Difference | Notes |
Cookie | 15 | 1 | ||||
Pie | 19 | 3 | ||||
Sundae | 22 | 0 |
21) A restaurant has annual fixed costs of $84,000 and a variable rate of 0.712. The check average is $48.33. If the manager wants to generate a profit of $50,000 for the year, how much business must he generate, both in terms of dollars and in customers? __________________ ________________________
22) Using the information in question 21, determine at what point the restaurant breaks even in sales dollars. ________________________
23) Describe the difference between a fixed cost and a variable cost. ______________________________________________________________________
24) List 3 examples of internal marketing and 3 examples of external marketing.
Internal: _____________________ _______________________ ________________________
External: _____________________ _______________________ ________________________
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher