i need help with my Project please

Project Description:

You are the owner of a popular restaurant that is having a record year in terms of sales, and its a rare evening when there is not a one-hour wait for a table. However, your most recent monthly financial statements have indicated that you have lost approximately $50,000 over the last three months. Your labor costs are low and in line with budget, and your menu items are priced so that you should have an average food cost of 36%, and beverage cost of 16%. However, your bookkeeper has indicated that your food cost has jumped to 52% and the beverage cost has jumped to 33%.

You have always trusted your staff and managers, and never had to worry before about your costs being out of line. Now, you need to take action to determine why your food and beverage costs are suddenly soaring.

1. What steps would you take immediately to try to determine why food and beverage costs have increased substantially?

2. What cost controls would you implement to best ensure that your food and beverage costs stay within budget in the future?

3. Besides food, beverage, and labor, what are some of the other restaurant expenses that should be controlled and monitored?