User Account

All Pages

What is the as purchased price of the main

Assignment Help Cost Accounting
Reference no: EM133201823

After you complete the table, select three menu items and track how costs are controlled for each item as it passes through the various stages of the restaurant/operation. Develop a set of questions for each stage that you can ask the restaurant manager or executive chef. Some SAMPLE questions are given below: (you are looking for specific application of the controls covered in this course)

1. Purchasing and Receiving

  • What is the as purchased (AP) price of the main (center of plate) ingredient(s) in this menu item?
  • What is the yield percentage of the main (center of plate) ingredient(s) in this menu item?
  • What is the EP cost?
  • What additional sides or standard menu items (i.e. bread, chips) would need to be added to the center of plate ingredient to complete the food cost for the chosen menu item?  How would this affect the overall food cost % of the menu item?
  • How often do these items need to be purchased?
  • How do you determine amount of items to purchase?
  • What type of purchasing program is used & who are the vendors?

2. Storing and Issuing

  • How are the items stored?
  • What stock rotation method is used?
  • How is spoilage prevented?
  • How often is inventory taken?
  • What inventory valuation method do you use? (FIFO, LIFO, Actual, Average)

3. Production

  • How many portions are prepared each day?
  • Is there a standardized recipe for each menu item?
  • How are wasted foods tracked?
  • How is each menu item portioned?

4. Service, Sales, Labor

  • What is the selling price of the selected menu items?
  • How was the selling price determined?
  • Is a Q factor used in pricing menu items?  If not, how are sides or standard menu items (i.e. bread, chips) factored into the selling prices?
  • (Calculate the food cost percentage from your data collected)
  • What market forces affect the selling price for each menu item?
  • How are sales tracked?
  • What is the popularity of the selected menu items?
  • What methods of payment are accepted?
  • How is cash secured in the facility?
  • Who counts the cashier/wait staff receipts?
  • How is scheduling done?
  • How does management forecast labor costs?
  • What is the employee turnover rate? [Calculate this from the # of employees hired and number of average employees needed by the facility.]

5. Other

  • What sustainability practices are utilized at the facility?
  • What is the age of the physical facility?
  • What security measures are in place at the facility?

Reference no: EM133201823

Questions Cloud

Which will be used in each of the class marketing project : MBUS 303 George Mason University. which will be used in each of the class Marketing Project sections. Will you be able to obtain existing sources of information
Develop land into commercial offices : Ivana, Eric, and Jerry form a partnership to develop land into commercial offices and rent them for a profit. Ivana contributes land with a fair market value of
What point might other companies have an ethical right : What point might other companies have an ethical right to intervene regarding environmental disasters - what circumstances would ethically justify a government
Business technology tools : Also, what business technology tools could you use to remind yourself to routinely report this information?
What is the as purchased price of the main : After you complete the table, select three menu items and track how costs are controlled for each item as it passes through the various stages of the restaurant
What are moral issues surrounding this marketing campaign : Find out some laws have been broken?Moral - What are the moral issues surrounding this marketing campaign - What are the ethical issues surrounding
Explain the economic ground for this profitability : Finally, if you conclude that this move was beneficial for Google, explain the economic ground for this profitability.
Cpt and icd code for case : The patient in Case 1-5 is an 87-year-old female who is to be admitted by her nephrologist, Dr. Pleasant, after the patient had been seen in Dr. Pleasant's offi
Describe three ways in which this advice might be incorrect : To increase a company's performance, manager suggests that the company needs to increase the value. Describe three ways in which this advice might be incorrect.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Prepare a single-step income statement

A company has the following data: net sales, $405,000; cost of goods sold, $220,000. Prepare a single-step income statement. Prepare a multistep income statement.

  Wzmu is a television station that has 25 thirty-second ads

wzmu is a television station that has 25 thirty-second ads slots during each evening. the station is now selling ads

  A new touch-screen smartphone to compet

Roxbury Mobile Company (RMC) is developing a new touch-screen smartphone to compete in the cellular phone industry. The company will sell the phones at wholesale prices to cell phone companies, which will in turn sell them in retail stores to the fin..

  What amount of joint processing cost is allocated to product

Wan, Tu, Tri, Por Joint production costs are as follows: Materials - P4,000; Labor - P3,000; Overhead- P2,000. What amount of joint processing cost is allocated

  Prepare fairbankss journal entries to record the dividends

Fairbanks Corporation purchased 300 shares of Sherman Inc. common stock as an investment in trading securities for $9,900.

  Make variable costing income statements for july and august

Denton Company manufactures and sells a single product.Variable costs per unit. Prepare variable costing income statements for July and August.

  What is predetermined overhead rate per direct labor hour

Fortify used 25,000 direct labor hours and 50,000 machine hours during the previous year. What is the predetermined overhead rate per direct labor hour

  Evaluate profit or loss made by a during the year

He also withdrawn Rs 15,000 for his private use On March 31st ,2008, his assets and liabilities were s follows: Creditors Rs 1,35,000 ; Debtors Rs 1,88,400 ; Stock Rs 37,125 ; Cash Rs 37,740 ; Calculate profit or loss made by A during the year

  How deal with in process costing as per weighted avg

How deal with in process costing as per weighted avg method in case of opening WIP and closing WIP given for the month of june

  Describe the demand on jameel

Assume: Tax rate is 20%, the required rate of return is 10%, What are the fixed costs? What are the variable costs? Describe the demand on Jameel's

  Prepare jlks journal entry for august

Compute the maturity date for note - Prepare JLKs journal entry for August 2

  Solve the budgeted unit cost of basic and deluxe trophies

Solve the budgeted unit cost of basic and deluxe trophies if Acclaim allocates overhead costs in each department using activity-based costing

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd