Problem 10 (9 points) The Terica Caf uses a standard cost approach to aid in controlling its food costs. Listed below are the sales price, standard food cost, and quantity sold for its five sandwiches for the week ended August 28. Item Selling Price Pork Barrel Chicken Breast Burger Delight Ocean Catch Egg Salad 1.40 Standard Quantity Food Sold Cost 1.6050 100 0.95 150 1.70 80 0.45 40 4.95 4.45 3,95 4.95 2.95 The actual sales for the week equaled $1,799.00 while the total actual food costs equaled $547.00. d. Required: 1. Calculate the standard food cost percentage based on the information above. HOMEWORK HINT: Calculate the individual food cost percentage (standard food cost/selling price) for each of the five items and take the average of those five percentages. 2. Calculate the standard food cost percentage assuming 100 of each item is sold during a week. HOMEWORK HINT: Multiply all five of the Selling Prices and all five of the Standard Food Costs by 100. Total the Sales and Food Cost amounts, then calculate the food cost percentage using the totals. 3. Calculate the actual food cost percentage for the week. HOMEWORK HINT: Use the actual amounts for the week to calculate the actual food cost percentage