S. In an essay of approximately 300 words, compare and contrast the Menu Pre-Cost and Abstract to the Portion Inventory and Reconciliation (Chapter 7) as a method for controlling costs. e owner of the Red Fox Inn has developed a new menu for use in her establishment. Each menu item represents a complet determined standard cost for each item and has kept careful records of sales for the month of March. The data are as follows: e meal. She has Menu Item Number Sold 310 270 540 425 175 340 510 480 Standard Portion Cost $5.50 7.80 3.80 5.25 8.70 6.50 5.70 4.20 Food sales for March totaled $50,028.50 Using the information provided, calculate total standard cost for the period. he following figures are from the accounting records of the Red Fox Inn, the restaurant identified in Question 9: Opening inventory - Closing inventory +Food purchases -Transfers: beverage to food -Transfers: food to beverage 7,414.80 6,327.35 7,642.80 443.00 226.00 837.00 Employees' meals a. Calculate cost of food sold for the month of March b. Using information provided in Question 9, calculate each of the following 1. Actual cost percent 2. Standard cost percent 3. Potential savings in dollars 4. Potential savings as a percentage of sales