1a. What does the difference between the book and actual closing inventory figures mean?

1b. What steps can be taken to fix it?

2. What are some of the potential advantages of using daily and cumulative figures for food costs and food cost percents, rather than relying exclusively on end-of-month calculations?

3. Discuss the possible advantages and disadvantages of the kinds of complex computer-generated reports described in the chapter.

Chapter 10:

1. List and discuss five problems that can lead to differences between actual cost and standard cost for an operating period, pointing out how each increases potential savings.

2. It has been said that potential savings, taken as a percentage of sales, can be used as one possible measure of operating efficiency. Do you agree or disagree? Why?