Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. The following information, taken from records in the Circle Restaurant, provides the results of butcher tests on 10 legs of veal, U.S. Choice, purchased

image text in transcribed
image text in transcribed
2. The following information, taken from records in the Circle Restaurant, provides the results of butcher tests on 10 legs of veal, U.S. Choice, purchased over the last several weeks from Middletown Meats, Inc. Veal legs are purchased to produce 5 - ounce portions of veal cutlet. The restaurant paid $ 814.28 for the 10 legs, which weighed a total of 247 pounds 8 ounces as purchased. Breakdown: Fat: 18.824kg; value per kg: $ 1.00 Bones: 25.628kg; value per kg.: $ 1.00 Shanks: 8.959kg; value per kg: $ 7.50 Trimmings: 21.432; value per kg: $ 4.99 Loss in cutting 1.134 kg Veal cutlets: 36.288 kg a. Given the preceding information, complete butcher test calculations to determine standard cost of the 150 gram portion, as well as yield factor, portion cost factor, and kilogram cost factor. b. Find the cost of the standard 150 gram portion at each of the following dealer prices: 1. $7.00/kg. 2. $ 7.50/kg 3. $ 7.99/kg. C. Find the cost of each of the following: 1. A 175 gram portion, if dealer price is $ 7.00/kg 2. A 125 gram portion, if dealer price is $ 7.50/kg 3. A 125 gram portion, if dealer price is $ 7.65/kg d. The owner of the Circle Restaurant wants portion cost for veal cutlet to be $ 2.65, regardless of variations in dealer price. Determine the correct portion size if 1. Dealer price is $ 7.65/kg 2. Dealer price is $ 7.50/kg e. Develop a chart showing the costs 125 gram, 150 gram, and 175 gram portions at dealer prices per kilogram of $ 7.00, $ 7.10, and so on in $ 0.10 increments up to $8.00 per kilogram. f . How many kilograms of veal leg (as purchased) will be needed to prepare and serve 150 gram portions to 235 people? g. Given the weight of the average leg of veal, as determined in the butcher test, how many legs should the steward order to prepare and serve 150 gram portions to 235 people? h . Records show that the Circle Restaurant used 48 legs of veal last month. How many standard 150 gram portions should have been produced from these 48 legs? i. The restaurant has a banquet for 500 people scheduled for tonight, and the manager has promised to serve veal cutlet as the entree. The steward neglected to order veal legs for this specific party, but there are 24 legs of veal in the house and veal cutlet is not on the regular dining room menu for tonight. Using these 24 legs of veal for the party, what size portion should be prepared so that all 500 people can be served

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Mike Deschamps

14th Edition

0134729315, 978-0134729312

More Books

Students also viewed these Accounting questions

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago