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Chp 4

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
show Food cost percentage is the weighted average food cost percentage for all items sold  
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Contribution margin   show
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Contribution margin method   show
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Demand-driven pricing   show
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show Popular formula used to determine menu prices based on the standard food cost %  
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show Best suited in operations with historical data  
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Market driven pricing   show
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show When the price of the menu item changes based on the current market  
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show The difference between the actual cost of producing an item and the price listed on the menu  
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show When different categories of food can get different markups  
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Menu engineering   show
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Menu matrix   show
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show It detailed analyst that shows the quantity sold of each menu item along with their selling prices and standard portion cost  
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show The connection between the selling price of an item it's worth the customers  
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show Focuses on the labor cost involved in food preparation  
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show Refers to the Quotient cost of all other food items served with an entrée  
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Ratio pricing method   show
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Value perception   show
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Created by: Myth72