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Formulas to control Food Costs

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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Question
Answer
What is the formula for figuring Cost of Food Sold?   show
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How does one calculate Food Cost Percentage?   show
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What are the three methods for figuring the selling price of an item?   show
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What is the advantage of using the TRA Markup Method?   show
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show EP amount needed ÷ Yield percentage = AP amount  
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show 2 Step process: Step 1 Find Average inventory: Opening Inventory + Closing Inventory ÷ 2 = Average Inventory  
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How is Inventory Turnover figured?   show
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show 1. Reduce portion size 2. Replace food item with a more cost-effective ingredient. 3. Feature items with higher profit margins. 4. Raise menu prices  
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show 1. Monitor portion control 2. Monitor food storage and rotation 3. Monitor food ordering 4. Imporve communication to reduce production errors  
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What corrective action might be taken to control INVENTORY COST?   show
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show 1. Reduce number of employees on schedule 2. Ask employees to end their shifts early. 3. Schedule cross-trained staff.  
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show True  
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show 1. Menu 2. Purchasing 3. Receiving 4. Storage 5. Production 6. Service  
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What are the two largest costs in a restaurant that management must control?   show
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What is the best way to tell at a glance how an operation is performing?   show
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show True  
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A Standardized Recipe is a key tool in the process of controlling food costs. True or False?   show
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show EP Weight ÷ AP Weight = Yield %  
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show EP needed ÷ Yield % = AP needed  
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Explain how the TRA method of Markup is calculated.   show
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show  
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Created by: kalimu12
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