Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

# Menu Items Number Items Sold Menu Mix % Food Cost Item Contribution Margin Selling Price Menu Cost Menu Revenue Menu Cost Margin C.M Cat

# Menu Items Number Items Sold Menu Mix % Food Cost Item Contribution Margin Selling Price Menu Cost Menu Revenue Menu Cost Margin C.M Cat M.M Cat Menu Item Class
1 Roast Beef 1301 $ 3.75 $ 12.00
2 Shrimp 2352 $ 5.70 $ 17.00
3 Sea Food Plate 1562 $ 9.08 $ 21.00
4 Steak 2801 $ 7.25 $ 21.00
5 Veal 4071 $ 5.45 $ 17.00
6 Lamb 4756 $ 5.54 $ 18.00
7 Salmon 3691 $ 6.07 $ 20.00
8 Pizza 5918 $ 2.03 $ 14.00
9 Trout 2692 $ 9.06 $ 24.00
10 Pasta 227 $ 5.45 $ 21.00
Totals:
Number of Items on Menu 10
Menu Food Cost Menu Food Cost/Menu Revenue CM/MM Category Menu Item Category
Average CM total Item CM / total # of items on menu HIGHHIGH STAR
Average % Menu Mix HIGHLOW PUZZAL
LOWHIGH PLOWHORSE
LOWLOW DOG
Assignment :
1. Complete the following chart
2. Once you have classified each menu item from part 1, explain what actions should be taken with each item and why.
3. Using the Information Below, and food cost fron the chart above, calculate selling price for the times:
Item Food/Beverage Cost ($)
Tea $0.22
10oz Striploin $16
Turkey Sandwich $2.82
Spaghettini $3.47
House Wine Glass $3.75

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial management theory and practice

Authors: Eugene F. Brigham and Michael C. Ehrhardt

13th edition

1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099

More Books

Students also viewed these Finance questions

Question

1. Who do you think Uncharted Powers competitors are in the market?

Answered: 1 week ago

Question

=+ a. A change in consumer preferences increases the saving rate.

Answered: 1 week ago