Description BACKGROUND You are opening a new restaurant and need to determine the selling price for a dish you plan to offer as a featured item on your menu. Use the information provided below to calculate the menu item price using various pricing methods, then analyze your results. Refer to Textbook Pages 78-81 for calculations. ASSIGNMENT GUIDELINES Assume the following data has been obtained from your operation: Menu Item Food Cost = $5.70 Food Costs = $35,000 Non-Food Costs = $30,000 Required Profit/Target Profit = $7,500 Expected Number of Customers = 12,000 Labor Cost = $18,500 Desired Prime Cost Percentage = 58% = .58 Calculate the menu selling price using each of the following pricing methods: