1. Provide 3 reasons why actual costs may be higher than forecasted costs. (3)

1. Discuss the advantages and disadvantages of calculating and comparing standard and actual costs by the daily method rather than by the periodic method. (2)

1. Explain the concept of price sensitivity and provide an example of a product that would be price sensitive. (2)

1. What are 2 ways that you can draw a guest's attention to menu items that you would like them to choose because of the higher contribution margin. (2)

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Unforeseen Events or Circumstances Unexpected events such as natural disasters supply chain disruptions or sudden regulatory changes can lead to cost increases beyond what was initially forecasted For ... View the full answer