Summary of Actual and Standard "Food Costs, Food Sales, and Potential Savings 1. Complete the following chart Value Marks) Actual Cost Today To Date Standard Cost Today To Date Sales Today To Date Actual Cost Today To Date Standard Cost Today To Date Today Potential Savings To Date Tow To Dad 2,225 3,806 2,401 2,210 2 The owner of the Silver Fox Dining Lounge has developed a new menu for use in her establishment Each menu item represents a complete meal. She has determined standard cost for each item and has kept careful records of the sales for the month of March. The data are as follows Menu Item Number Sold Standard Portion Cost $ 7.80 320 C 265 545 425 525 8.70 mo 1BB 380 F 244 5.70 G 515 475 4.20 6.50 Food Sales for March totaled $ 51,238.50 Using the information provided, calculate total standard cost for March, Valeemarks) Total Standard Cost for March 3. The following figures are from the accounting records of the restaurant identified in Question 2 Total Standard Cest for March 3. The following figures are from the accounting records of the restaurant wanted in Question 2 Opening n oy $7,515 80 Closing Inventory 832935 Food Purchases ) From the accounting recorde above calculate the cost of food sold for Marthave 4 mare i dentified above Calculate the following for the Silver Fox Dining Lounge, the res 1. Actual Cost percent 2. Standard Cost percent 3. Potential Savings in dollars 4. Potential Savings as a percentage 4. Complete the following chart by first finding the imperial equivalents of the following LCBO products and then calculate the cost per ounce for each. (Value 8 marks) LCBO # Description Size Metric (ml) 1140 Size Imperial (oz.) Price Unit Cost per OZ 190 Smirnoff Vodka $ 31.25 750 18.95 145336 Apricot Brandy 27235 Tequila Sauza 41384 Jack Daniel 1140 34.95 27.65 1140 1784 Grand Marnier 41.95 177956 Melon Liqueur 165983 Cointreau 17.95 33.25 20.25 5215 Triple Sec 750 1140 32.65 3723 Cheminaud Brandy 1230 Brights President 750 9.35 646 Kahlua Coffee 750 26.95 1140 30.40 19281 Bacardi Rum (W&D) 2881 Beaujolais Superior 155630 Creme De Cacao (W) 750 8.55 750 19.95 16196 Crme De Menthe (G) 750 15.75 428334 Mike's Hard Lemonade 4pk-B 1320 8.25 5. Given the following information . First, find the imperial yield. . Second, calculate the cost of the smallest servable portion or (Unit Size) for each product. (Value 11 marks) Product Miscellaneous Bar Products Yield Yield Cost per Unit Size Metric Yield Imperial Unit Price Lemon mix 8.45 Lime mix 10.95 19.95 Cherries (red) (* 620) Cocktail olives 400) 21.95 Milk 2% 4L bags 3.85 Oranges 23.67 Case count 113 Case count 140 Lemons 27.40 Limes Case count 35 15.47 Orange juice 1689 mi 1.92 7 - up 355 mi .33 Grenadine litre 2.97 NOTE: Straws cost 0.01 each &* is the actual number of pieces in a four litre container. Beverage Costing Form von o mare) Type of Glass Date: VALUE Beverage Name: INGREDIENTS Dark Rum Orange juice Lemon Mix Planter's Punch Unit Cost (oz) QUANTITY 1 oz. 1 oz. 1 oz. 1 oz. 1 oz. 4 oz. 4 oz. 1 Lime Mix Topped with 7-up Grenadine Apricot Brandy Straw Orange Cherry Total beverage costs Menu selling prices Beverage cost percent % 5.25 METHOD OF PREPARATION: Beverage Costing Form value 6 marks) Date: Type of Glass Between the Sheets Unit Cost (oz) QUANTITY VALUE 24 oz. Beverage Name: INGREDIENTS White Rum Brandy Triple Sec Lemon Mix Lemon Cherry 12 oz. 14 oz. 192 oz. Total beverage cost $ Menu selling price $ 5.75 Beverage cost percent % METHOD OF PREPARATION