Menu item	Number sold	Standard/budgeted portion cost
A	173	$5.30
B	278	$6.50
C	574	$3.65
D	600	$5.00
E	124	$8.65
F	300	$6.70
G	545	$6.05
H	430	$4.35
Totals	3024
Food sales	$51,090.55
A. Food cost $ based on standard cost figures:
B. Food cost % based on standard cost figures:
C. Contribution margin $:
Actual inventory figures
Opening inventory	$7,293.50
Purchases	$16,825.00
Ending inventory	$6,920.80
D. Cost of goods sold $:
E. Food cost % based on actual cost figures:
F. Difference between standard and actual cost in $		+ or -
G. Difference between standard and actual cost %		+ or -

H. 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?

The following information applies to the mythical City View Restaurant located in Chicago, IL

Assume there are no allowances, transfers or discounts.