Cost Control
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What is the first-in first-out system used for? | To allow older inventory item be used first before newer inventory items
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| What is a par level? | Predetermined, regular purchase point amount
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| What is a waste log? | a report that list any item that had to discarded and the reason why
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| What is a major cause of food cost in a food service operation? | Not adhering to standardized recipes
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| What is Price-Value Relationship? | The connection between selling price and its worth to the customer
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| AP stands for? | As Purchased
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| EP stands for? | Editable Portion
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| What is the As Purchase (AP) method | Method used to cost an ingredient at the purchase price prior to any trim or waste being taken into account
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| What is the Edible Portion (EP) cost? | Method used to cost an ingredient after it has been trimmed and waster has been removed so that only the usable portion of the item is reflected
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| How does food cost percentage method works? | To determined menu prices based on the standard food cost percentage
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| Formula for Selling Price | food cost divided by food cost percentage
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| Formula for Food Cost Percentage | food cost divided by selling price
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| Formula for Cost of Goods | selling price times food cost percentage
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| What is the Yield test? | Test used to measure the amount of shrinkage that occurs during trimming and cutting products that are not cooked, such as produce
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| When do you do a Perpetual Inventory Control? | At the close of each inventory period
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| What do you do during a Perpetual Inventory Control? | Take a physical count and valuation of all inventory on hand
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Created by:
kalimu12
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