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Use the following information to answer questions 11-14. Number Item Selling Item Sold Cost Price Prime Rib 1,300 $3.96 $11.50 Chicken 1,775 $2.75 $9.95 Steak

Use the following information to answer questions 11-14.

Number Item Selling

Item Sold Cost Price

Prime Rib 1,300 $3.96 $11.50

Chicken 1,775 $2.75 $9.95

Steak 500 $3.63 $10.95

Ribs 800 $2.32 $11.95

Opening Inventory $ 8,785

Purchases $13,128

Transfers to bar $ 998

Ending Inventory $ 8,933

The Standard Food Cost Percentage is:

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