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Chap 1
| Term | Definition |
|---|---|
| Sales | The dollar amount the establishment has taken in for food and beverages |
| Loss | Expenses are greater than sales |
| Profit | Expenses and food cost from sales |
| Cost structure | The proportion or percentage of expense items to sales |
| Controllable cost | Cost that's control |
| Variable cost | Cost that increase and decrease direct proportion to sale |
| Fixed cost | Cost that remain the same |
| Semivariable cost | Cost that increase and decrease as sale increase and decreases but not in direct proportion |
| Non controllable cost | No control over the cost |
| Operational standard | The measure established comparisons and judgments about the degree of excellence in operation |
| Prime cost | Operations total food cost beverage cost and labor costs for a specific time period usually week |
| Cover | One meal served to a customer |
| Controls | Important part of making a profit |
| Quality standard | Set the of the excellence of raw materials |
| Quantity standard | Refer to weight count volume measure |
| Variance | The difference between actual results and targeted results |
| Line item review | The checking of every item on the budget against actual figures and noting the difference or variance |
| Corrective action | Step that are taken to address a problem |
Created by:
The black guy
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