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The manager of the VPC Bistro has the following operating data available: - Revenue $1,187,000 - Food Cost $403.580 (includes Entree cost of $274,434) -
The manager of the VPC Bistro has the following operating data available: - Revenue $1,187,000 - Food Cost $403.580 (includes Entree cost of $274,434) - Labor cost $ 367,970 - Other non food cost $316,550 (excludes labor) - Desired Profit $98,900 - Number of guests 107,900 Using the above information to establish the base selling price of a menu item with alternative pricing methods. Note: the item to be priced has a food cost of $4.57 (entree cost=$3.12; plate cost=$1.45) a. What is the approximate base selling price using the ingredients mark-up method? b. What is the approximate base selling price using the prime ingredient mark-up method? c. What is the approximate base selling price using the mark- up with accompaniment cost method? d. What is the approximate base selling price using the contribution margin pricing method? c. What is the approximate base price using the ratio pricing method? f. What is the approximate base selling price using the simple prime cost method
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