Menu item B Number sold 183 298 554 610 134 Standard/budgeted portion cost $5.50 $6.50 $3.65 $5.20 $8.65 $6.70 $6.05 $4.85 D E F G 305 . Totals 525 410 3019 Solve all problems for 2 decimal places (x.xx) Food sales $51,880.55 1. Food cost $ based on standard cost figures (1 pt) 2. Food cost % based on standard cost figures (1 pt) 3. Contribution margin $ (1 pt) Actual inventory figures Opening inventory Purchases Ending inventory $7,973.50 $16,975.00 $7,092.80 4. Cost of goods sold $ (1 pt) 5. Food cost % based on actual cost figures (1 pt) 6. Difference between standard and actual cost in $ (1 pt) + or 7. Difference between standard and actual cost % (1 pt) + or (Be sure to indicate whether the differences in questions 6. and 7. are positive or negative) 8. Explain the significance of and the possible reasons for the dollar and percentage differences between the standard costs and the actual costs. What are three possible causes? What is important to understand about the difference? (2 pts)