Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Jake Hess desires your assistance on pricing menu items using the ingredient markup approach. The ingredient costs of a steak dinner are as follows: (5
- Jake Hess desires your assistance on pricing menu items using the ingredient markup approach. The ingredient costs of a steak dinner are as follows: (5 points)
- Assume a 25% food cost is desired. What should be the price of a steak dinner? (3 points)
- Assume a multiple of six; what is the target price of the steak dinner if the prime ingredient approach is used? (2 points)
Steak (main ingredient) | $7.50 | |
Potato | $0.75 | |
Peas | $0.65 | |
Mushroom Sauce | $0.75 | |
Steamed Vegetable | $1.68 | |
Salt Table | $0.01 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started