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Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU SOLD FOOD PRICE COSTS COST MENU REVENUES Cost % Spicy Chicken 120 $7.75 $12.5 Wings Column 1300 Totals $9,500 $21,000 Question 2 1 pts Food opening inventory $17,500 Food purchases $2,500 Food ending inventory $3,350 Cost of Goods Consumed Employee meals $250 Promotional food $125 Bar transfers $110 1. What is the actual cost of goods sold? 2. What is the actual food cost percentage? Question 3 1 pts Based on the previous two questions, What is the variance in dollars? Variance is than in dollars What is the variance in percentage points? Question 4 1 pts Spice restaurant has 100 seats Average check = $ 45; Average Variable Cost = $15 per meal; Annual Fixed Cost = $750,000 What is the number of meals that need to be sold to breakeven in a year? What are the sales needed to breakeven? (Use the method of using # of meals with its selling price) Question 5 1 pts Product Analysis: Chicken Curry; Portion Size = 5.0 Ounces; yield = 80% Opening Inventory (lbs): 35 Ending Inventory (lbs): 45 Purchases (lbs): 110 Number of Meal Sold: 196 Meal Selling Price: $10.95 Chicken Purchase Cost (lbs): $5 What is the variance in the number of orders? What is the variance in pounds? What is the variance in lost revenue? What is the variance in product cost? What is the average size of the portions actually served? Question 6 1 pts Opening Inventory (01) $75,000 Purchases (P) $35,000 Ending Inventory (EI) $15,000 What is the Cost of Goods? What is the Average Inventory? What is Inventory Turnover