Q7 (10 pts). You are adding a Luau Coconut cocktail to your menu for the summer.Consider the following information:

Your beverage cost target for this drink is 17.0%.

You plan to use Don Q Gold rum as your base spirit. Your purchasing options for this product is as follows (taking into account a case discount that will be available to you):

o750-ml (25.4 oz) bottles: $11.65 per bottle

o1-Liter (33.8 oz) bottles: $13.50 per bottle

Your Luau Coconut cocktail recipe and associated costs are:

o2 oz Don Q Gold Rum: cost to be determined by you

o1 oz coconut water: $0.161

o1 oz coconut milk: $0.065

o1 oz simple syrup: $0.091

o0.75 oz lime juice: $0.079

o0.5 oz pineapple juice: $0.038

o1 each lime wheel: $0.017

o1 each maraschino cherry: $0.090

Using this information, determine a menu-appropriate price for your Luau Coconut cocktail.

HINT #1: You must first decide which bottle size is more appropriate for you to purchase.

HINT #2: Menu-appropriate prices involve rounding.

Q8 (10 pts). Consider the following information for Acacia Vineyard Pinot Noir:

Menu price per glass: $12.00

Cost per bottle to purchase: $18.00

Actual wine cost: 29.5%

Targeted wine cost: 30.0%

Your standard pour is 5 oz per glass, which means you get approximately 5 glasses per 750ml (25.4 oz) bottle

Using this information, determine the Contribution Margin on a glass of Acacia Vineyard Pinot Noir.

Sale price- prod cost= 12-18= -6

Consider the following information:

You have a cocktail on your menu priced at $10.50.

This cocktail uses premium spirits and has a cost of $2.02 to produce.

Your targeted beverage cost is 18.5% for premium cocktails.

Q9 (5 pts). Using this information, what would you say about the menu price of this cocktail?(Meaning, is it appropriate?Too high?Too low?)

Too low

Q10 (5 pts). If it is too high or too low, please recommend a new menu price.

2.02/0.185= $10.91 $11

The following questions are based on Module 4 - Week 13 (23 points):

Consider the following information related to your recent beverage inventory:

Beverage Sales: $58,724

Total Sales: $167,784

Ending Inventory for February: $3,848

Purchases for February: $14,500

Ending Inventory for January: $4,240

Q11 (5 pts). Using this information, determine the Beverage Cost of Goods Sold for the month of February.

4240+14500-3848+ 14892

Q12 (5 pts). Using this information, determine the Beverage CostPercentage (to 1 decimal place)for the month of February.

(14892/58724)100=25.36

Q13 (4 pts). Evaluate the beverage cost % you just calculated.

Q14 (5 pts). Using this information, determine theInventory Turnover Rate (to one decimal place)for the month of February.

14892/(4240+3848)/2

14892/4044= 3.7

( Not sure if correct)

Q15 (4 pts). Evaluate the Inventory Turnover Rate that you just calculated.