Forecasting and Budgeting

• When calculating a cost,DONOT include the $ sign.
• Round to 2 decimal places (e.g. for $265.002, enter 265.00), and use a leading 0 when values are less than $1.00 (e.g. 0.45)
• Do not use commas for numbers larger than 1000
• When calculating a percentage, round to 1 decimal place
• When calculating the number of items to prepare/par/inventory/sold, round to the whole number

Golda's Skillet Diner has the following information: customer count, daily sales, food cost percentage, and labor cost percentage information. The establishment does not estimate beverage cost separately. It is assumed that the customer count for Saturday is twice as high as Wednesday. Given the following information, give a sales forecast, a food cost budget, and a labor cost budget.

	Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday	Totals/Avg
Customer count	104	62	76		146	200	222	Total
Daily sales ($)	$2,300.00	$1,563.00	$1,876.00	$2,694.00	$4,151.00	$5,183.00	$5628.00	Total
Average check per customer ($)								Avg
Food cost (%)	27%	28%	29%	28%	30%	31%	33%	Avg
Food cost budget ($)								Total
Labor cost (%)	25%	28%	30%	29%	29%	30%	32%	Avg
Labor cost budget ($)								Total
Prime cost (%)								Avg

Determining Menu Prices

You are the general manager of Burrito Biggies, a popular quick-service restaurant, and have been given this assignment.

Menu Product Mix Spreadsheet

Item	Number Sold	Cost	Selling Price	Food Cost Percentage	Total Cost	Total Sales
Taco	890		$0.89	36%		$ 792.10
Burrito	775	$0.42		26%	$325.50	$1,255.50
Tamale	800	$0.29	$0.79		$232.00
Chili con Queso/chips	520		$1.49	27%	$208.00	$774.80
Salsa/chips	780	$0.26	$0.89	29%		$694.20
Beverages	1,650		$0.89	18%	$264.00
Total

HINTS

• Total number sold is calculated by adding the number sold for each item.
• Missing costs are calculated by dividing the total cost figure for the item by the number sold for that item.
• The missing selling price figures are calculated by dividing the total sales for an item by the number sold for the same item.
• Food cost percentage is calculated by dividing the cost for an item by its selling price
• Total cost is calculated by multiplying the number sold of an item by its cost.
• Total sales for an item is calculated by multiplying the number sold for the item by its selling price.
• Total Food Cost percentage is calculated by dividing Total Costs by Total Sales.
• Food Cost and Selling Price columns are not totaled.