Assume that you have paid 10 dollars per pound for the salmon. (AP cost "As Purchased Cost") Start with the whole fish (head and tail, but already cleaned.) Assume that your fish weighs 10 pounds. (AP weight "As Purchased Weight") In this exercise we are serving steaks. Assume that you want to serve 7 ounce steaks The "Units of Measurement considered here is 16 ounces per pound. Remove the head and the tail. Split the salmon into two sides, removing the backbone and ribs. Skin both halves and remove any other bones, fins, etc. Now you have two skinned, deboned sides of salmon. Once you have finished dressing the salmon you have 6.7 pounds remaining. (EP "Edible Portion") 1.) What is the yield percentage? Do not enter the % sign. 2.) What is the true cost per pound? (i.e. the cost per pound of the edible portion) Do not include the $ sign in your answer. 3.) What will your true cost per portion be? Do not include the $ sign in your answer. 4) How much do you want to charge per portion? (Selling Price) Assume you want to realize a 230 percent markup on the salmon. Do not include the $ sign in your answer. 5.) Now suppose that you are doing a banquet for 270 people. How many pounds of salmon do you need to buy? If rounding is required, round up to the next whole pound. 6.) Calculate the food cost (purchase cost) percentage of the selling price. Correct to 3 decimal places. Do not include the % sign in your answer. Useful Formulas Yield % = EP (Edible Portion)/AP weight (As Purchased Weight)* 100 True Cost = AP (As Purchased Cost) / Yield % Portion Cost = (True Cost/Units of Measurement) * Portion Size Selling Price = Portion Cost + Markup Required Pounds = [(Number of People Portion Size) / Yield %] / Units of Measurement Food Cost % = (Portion Cost / Selling Price)* 100 *