As purchased (AP) method

A method used to cost an ingredient at the purchase price prior to any trim or waste being taken into account.

A method used to measure the amount of shrinkage that occurs during the trimming of a meat product

The value of how much food product exists at the end of a given time period.

A way to measure the amount of product shrinkage during the cooking or roasting process.

Credits to cost of sales

A category of credits including such items as employee meals, complimentary meals served to guests, or grease sales sold to rendering companies

Edible portion (EP) cost

A method used to cost an ingredient after it has been trimmed and waste has been removed so that only the usable portion of the item is reflected

The target cost an operation is aiming for.

The value of how much food product exists at the start of a given period.

The total sum of product costs included in a single meal, or plate, served to a guest.

Price-per-person model

Pricing determined by calculating the food cost for all items included on a buffet and the backup inventory used to replenish the buffet during the crevice period.

The quality and quantity of output compared to the amount of input, such as labor hours, needs to generate it.

Product specifications

Descriptions of the quality requirements of the products that are purchased.

The value of how much an operation spent on food products in a given period.

A tool used to calculate the standard portion cost for a menu item, or the exact amount that one serving or portion of a food item should cost when prepared according to the item's standardized recipe.

The percentage of sales volume each menu item contributes to total sales.

Standardized recipe form

A set of directions for preparing a food or beverage item, along with a list of ingredients.

Standard portion cost

The exact amount that one serving or portion of a food item should cost when prepared according to the item's standardized recipe.

A test used to measure the amount of shrinkage that occurs during trimming and cutting products that are not cooked, such as produce.

The amount of food in a serving as determined by the standardized recipe or the company standard.

A formalized, consistent guide to preparing menu items, which lists the ingredients and quantities needed for a menu item, the methods used to produce it, and it's appropriate portion size

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Chapter 3

Calculating food cost

Term	Definition
As purchased (AP) method	A method used to cost an ingredient at the purchase price prior to any trim or waste being taken into account.
Butcher's yield test	A method used to measure the amount of shrinkage that occurs during the trimming of a meat product
Closing inventory	The value of how much food product exists at the end of a given time period.
Cooking loss test	A way to measure the amount of product shrinkage during the cooking or roasting process.
Credits to cost of sales	A category of credits including such items as employee meals, complimentary meals served to guests, or grease sales sold to rendering companies
Edible portion (EP) cost	A method used to cost an ingredient after it has been trimmed and waste has been removed so that only the usable portion of the item is reflected
Ideal food cost	The target cost an operation is aiming for.
Opening inventory	The value of how much food product exists at the start of a given period.
Plate cost	The total sum of product costs included in a single meal, or plate, served to a guest.
Price-per-person model	Pricing determined by calculating the food cost for all items included on a buffet and the backup inventory used to replenish the buffet during the crevice period.
Productivity	The quality and quantity of output compared to the amount of input, such as labor hours, needs to generate it.
Product specifications	Descriptions of the quality requirements of the products that are purchased.
Purchases	The value of how much an operation spent on food products in a given period.
Recipe cost card	A tool used to calculate the standard portion cost for a menu item, or the exact amount that one serving or portion of a food item should cost when prepared according to the item's standardized recipe.
Sales mix	The percentage of sales volume each menu item contributes to total sales.
Standardized recipe form	A set of directions for preparing a food or beverage item, along with a list of ingredients.
Standard portion cost	The exact amount that one serving or portion of a food item should cost when prepared according to the item's standardized recipe.
Yield test	A test used to measure the amount of shrinkage that occurs during trimming and cutting products that are not cooked, such as produce.
Portion size	The amount of food in a serving as determined by the standardized recipe or the company standard.
Standardized recipe	A formalized, consistent guide to preparing menu items, which lists the ingredients and quantities needed for a menu item, the methods used to produce it, and it's appropriate portion size

Created by: Ashleyd401203

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