Extra Credit FAB210 Cost ControlStudent Name_____________________________________________________________

1. (10 points) For one 3-hour dinner period in a restaurant that has 150 seats.

Server

Number of Guests

Gross Sales

A

75

$675.90

B

68

$646.40

C

79

$711.10

Please calculate:

Total sales for the meal period:

Total number of guests:

Guests per hour:

Average guests per server:

Average check for server A:

Average check for server B:

Average check for server C:

Average check for entire restaurant:

2. (5 points) Please number the following in the order you would find them on an income statement.

__________Food Costs

__________Income Taxes

__________Cost of Sales

__________Beverage Sales

__________Profit

__________Depreciation

__________Gross Profit

__________Interest Expense

__________Occupancy Costs

3. (5 points) At the Continental Bar, a straight shot of bourbon is one ounce. The purchase price for a one liter bottle is $35.35.

a. What is the cost of a straight shot?

b. If the desired beverage cost is 20%, what price should be assigned to one shot of bourbon?

4. (10 points) Income Statement with Budget

Please complete the change and upcoming year columns based on the following information:

Food and beverage sales will both increase by 5%

Food and beverage cost percentages will remain the same

Salaries and wages will increase by 4%

The cost of employee benefits will increase, but will continue to be the same percentage of salaries and wages

Other controllable costs will increase by $6,500

Occupancy costs will increase by $2,000

Interest and depreciation will remain the same

Change

Upcoming

Sales

Year

Food

$1,120,964.00

Beverage

$465,200.00

Total Sales

$1,586,164.00

Cost of Sales

Food

$392,337.00

Beverage

$102,344.00

Total Cost of Sales

$494,681.00

Gross Profit

$1,091,483.00

Controllable Expenses

Salaries and Wages

$396,541.00

Employee Benefits

$99,135.00

Other Controllable Expenses

$275,330.00

Total Controllable Expenses

$771,006.00

Income Before Occupancy costs

ancy Costs,

$320,477.00

Interest, Depreciation, and Income Taxes

Occupancy Costs

$75,230.00

Interest

$25,600.00

Depreciation

$79,099.00

Total

$179,929.00

Restaurant Profit

$140,548.00

5. (10 points) Create a CVP chart and equations using the following figures to calculate the break-even point in dollars. The Old Mill Restaurant has an average check of $24.15. Its variable costs were 44% of total sales, and the fixed costs were $28,112.

6. (10 points) Please complete the following income statement based on the following information:

Food Sales$723,556.00

Salaries and Wages$228,456.00

Beverage Sales$224,945.00

Other Controllable$145,532.00

Beverage Cost$57,534.00

Employee Benefits$14,667.00

Food Cost$265,998.00

Occupancy Costs$44,860.00

Depreciation Expense$74,856.00

Interest$21,790.00

Sales

% of Sales

Food

%

Beverage

%

Total Sales

%

Cost of Sales

Food

%

Beverage

%

Total Cost of Sales

%

Gross Profit

%

Controllable Expenses

Salaries and Wages

%

Employee Benefits

%

Other Controllable Expenses

%

Total Controllable Expenses

%

Income Before Occupancy costs

%

Interest, Depreciation, and Income Taxes

Occupancy Costs

%

Interest

%

Depreciation

%

Total

%

Restaurant Profit

%

7. (10 points) Create a popularity index for the sales history given below.

Menu Item

Number Sold

Popularity

Index

Veal Marsala

375

Strip Steak

330

Roast Chicken

125

Stuffed Shrimp

160

Pasta Alfredo

130

Pork Chops

80

Saute Liver

90

Beef Stew

170

Deluxe Burger

405

Grill Swordfish

135

Totals

100%

8. (10 points) Now complete a production schedule using the popularity index and accounting for a 10% increase in sales that the chef expects due to a holiday.

Menu Item

Total Forecast

x

P.I.

=

Portion Forecast

x

% adjustment

=

Adjusted Portion Forecast

Veal Marsala

Strip Steak

Roast Chicken

Stuffed Shrimp

Pasta Alfredo

Pork Chops

Saute Liver

Beef Stew

Deluxe Burger

Grill Swordfish

Totals

1500

100%

9. (10 points) Please calculate the cost of food sold based on the following figures. Please rewrite everything in the proper order and then make the calculations.

Purchases$8,300

Closing Inventory $2,540

Fruit used at the bar $250

White wine used for sauces $150

Opening Inventory $2,688

Employee Meals $400

10. (10 points) Please finish the following recipe costing chart.

Salisbury Steak Yield: 50 servings

IngredientsAmountPriceExtension Cost

Beef chuck E.P.14 lbs.$2.25 per EP lb.__________________

Onions3 lbs.0.75 per lb.__________________

Garlic oz.2.52 per lb.__________________

Salad oil cup6.57 per gallon__________________

Bread cubes2 lbs.0.65 per lb.__________________

Milk1 pints3.18 per gallon__________________

Whole eggs81.89 per dozen__________________

Pepper oz.5.18 per lb.__________________

Salt1 oz..42 per lb.__________________

Total cost__________________

Cost per serving__________________

Selling price if desired food cost is 20%__________________

11. (10 points) Please complete the following chart:

Total Sales equals $328,291.75

Category

Amount Purchased

Cost

Percent of Sales

Budget Goal

Variance

Meat

$52,725

12%

Fish

$26,263

8%

Produce

$32,627

6%

Groceries

$16,212

5%

Dairy

$15,128

4%

Total

35%

Do you notice any red flags? Why or why not?