UTF-8 Week 2013%20Assignment 20-%20Chapter 207%20Inventory20Control - Read only in in with an Office 365 subscription An Italian restaurant buys veal chuck tender for veal scaloppini Marsala. The average weigh of the piece is 22 lb. After trimming into cutlets, there is a loss of 4.4 lb. The AP price for the veal chuck tender is $2.88 per lb. The standard portion size for scaloppini is 8 oz. (EP). The restaurant had an opening inventory of 60 lb. of veal chuck tender. The purchases during the month were 176 lb. (AP). At the end of the month, the ending inventory was 55 lb. (AP). The restaurant sold 272 veal scaloppini at a menu price of $14.95. a. What is the usage variance? (The difference between the actual cost and standard cost) b. What is the cost variance? (The usage variance time the AP price x lb.) c. What is the sales revenue variance? (The difference between the actual sales revenue and the standard sales revenue) UTF-8 Week 2013%20Assignment 20-%20Chapter 207%20Inventory20Control - Read only in in with an Office 365 subscription An Italian restaurant buys veal chuck tender for veal scaloppini Marsala. The average weigh of the piece is 22 lb. After trimming into cutlets, there is a loss of 4.4 lb. The AP price for the veal chuck tender is $2.88 per lb. The standard portion size for scaloppini is 8 oz. (EP). The restaurant had an opening inventory of 60 lb. of veal chuck tender. The purchases during the month were 176 lb. (AP). At the end of the month, the ending inventory was 55 lb. (AP). The restaurant sold 272 veal scaloppini at a menu price of $14.95. a. What is the usage variance? (The difference between the actual cost and standard cost) b. What is the cost variance? (The usage variance time the AP price x lb.) c. What is the sales revenue variance? (The difference between the actual sales revenue and the standard sales revenue)