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Using the Excel workbook that is in conjunction with the reading assignment found in this week's content complete the following by applying your Knowledge: If
Using the Excel workbook that is in conjunction with the reading assignment found in this week's content complete the following by applying your Knowledge:
- If the food cost is 30 percent, how much did the food actually cost?
- If the beverage cost is 25 percent of beverage sales, how much did the beverages cost?
- If the labor cost is 28 percent, how much money does that represent and how much is left over for other costs and profit?
- If a 33 percent food cost is required and a menu item sells for $16.95, what is its cost supposed to be?
- Sales at your restaurant for the month of October are $685,324. If a 25 percent labor cost is expected, what would that be in dollars?
- Calculate, using the XLSX document below, the income statement and budget forecast comparison. (Sample on page 291). After completing the form determine the monthly variance for each category. See below:
- Week 6 Assignment - Italian Restaurant Analysis.xlsx.
- Finally, after completing the variance determine action steps that you would take to control the costs. For a real-life example, imagine that the numbers you are looking at, have been caused by the pandemic COVID19. As a manager what changes do you suggest for getting costs back in control while still maintaining quality (see all of chapter 10 and referenced chapter 7 on page 290). What would be your priorities?
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