Jack Walsh is working on opening up a small coffee shop. He costed out all the standardized recipes for his menu and is now working on how to price his menu. Based on his projected budget and guest count forecasts, he figured he could operate at a profit if he based his menu prices on either a desired food cost percentage of 29% or using a contribution margin of $3.00 on all items. Use the table below to calculate Jack's target menu prices and answer the questions below. Desired food cost percentage: Desired contribution margin: 29% $3.00 Menu item selling price ($3.00 contribution margin) Sweet roll Fresh fruit and yougurt Bagel and cream cheese Pancakes - short stack Pancakes - tall stack item cost selling price (29% desired food cost) $ 0.50 $ 0.75 $ 0.40 $ 0.90 $ 1.20 s Pancakes - tall stack Southern Breakfast combo Huevos Rancheros Steak and eggs Coffee Orange juice hot tea $ $ $ $ $ $ $ 1.20 2.25 2.50 2.80 0.15 0.40 0.20 What are the advantages and disadvantages of each pricing model? If you were Jack, which model or combinations of models would you choose, and why? Use specific menu items to make your point