+
Related Flashcards
Cards In This Set
| Front | Back |
|
ACTUAL VS. THEORETICAL VARIANCE
|
Theoretical Food Cost Compared to Actual Food Cost
|
|
FOOD COST
|
Accurately calculating the quantity and cost of each ingredient that goes into each menu item, including any ‘paper costs’ such as napkins, wrappers, and bags
|
|
Gross Profit
|
Expressed in PercentageProfit__________________Selling Price X 100
|
|
THEORETICAL FOOD COST PERCENTAGE
|
Food Cost X Units Sold_______________________Total Food Sales X 100
|
|
ACTUAL FOOD COST CALCULATION NECESSARY INFORMATION
|
|
|
ACTUAL FOOD COST PERCENTAGE
|
[(Beginning Inventory + New Inventory Purchased) - Ending Inventory]_______________________Total Food Sales
|
|
CALCULATING ACTUAL VS. THEORETICAL VARIANCE
|
Actual Food Cost - Theoretical Food Cost
|
|
IDEAL FOOD COST PER SERVING
|
Recipe Cost/Recipe Sale Price
|
|
COMMON CAUSES OF INCREASED VARIANCE
|
|
|
THEORETIC FOOD COSTS
|
What food costs should be based on current inventory costs of all ingredients for the meals sold, and assuming perfect portions, no breakage, no shrinkage
|
|
IDEAL FOOD COST
|
Total Cost of Food/Total Sales
|
|
McDONALD'S OFF A PENNY A DAY
|
68 Million burgers daily = $680,000 dailyMeans $248 M annually
|
|
Productivity Calculation
|
Total Sales/Number of Employees
|
|
EBITDA
|
Earnings before Interest, Taxes, Depreciation and Amortization
|
|
IDEAL COST PERCENTAGES
|
|
