Welcome to PBL 3! The purpose of these "Problem Based Exercises" is for you to apply the concepts learned so far in the course to solving a real-world problem faced as a food service manager. I provide a foodservice scenario and it will be your responsibility as a group to assess the situation, diagnose the problem and come up with solutions. Your grade will be based on how well you analyze the problem and defend your solution.

This assignment is broken up into two parts, both submitted on Canvas

INDIVIDUAL WORK- complete the page 2 table of calculations. Enter your answers in the "PBL 3 Calculations" area on Canvas. You have unlimited attempts before the due date, so if you get an answer wrong, recalculate and try again.

Background:

You are the School Lunch Program Manager at a single school that serves all grades. Each month, you are to compile the previous month's financial measures for analysis and comparison to the previous months and years.

You started in your current position in October of 2013. The financial data from October 2013 is the result of the policies and procedures of your predecessor's actions in this position.The financial data from February 2014 is the result of your actions in this position.

Last month was the annual performance review process for performance incentive bonus awards. Although the time in position requirement to qualify for a financial incentive is six months, your supervisor requested quantitative data demonstrating exceptional financial improvement in the School Lunch program that would warrant waiver of the time restriction and allow you to receive the financial bonus. Whoopee!

PBL 3 Calculations

Problem:

Below you are given financial data from October 2013 and February 2014. Complete the charts below, using your financial accountability formulas. Be careful with your results, as they will determine the assessment of your performance and whether or not you get a bonus! Once the chart is complete, assess the changes and compare your predecessor's performance to your own and then answer the questions below the chart.

October 2013		February 2014
Inventory Sept 30	20,060	Inventory Jan 31	12,321
Inventory Oct 31	18,880	Inventory Feb 28	12,858
Purchases	17,708	Purchases	12,813
Sales	22,813	Sales	22,448
Total meals served	5,790	Total meals served	5,740
Labor cost	11,105	Labor Cost	9,531
Cost of goods sold		Cost of goods sold
Average inventory		Average inventory
Inventory turnover		Inventory turnover
Food Cost per meal		Food Cost per meal
Food cost percent		Food cost percent
Labor cost percent		Labor cost percent

PBL 3 Evaluation

1. What variables remained most constant between the two months? (name at least 3)- 5 pts
2. What variables changed most significantly between the two months? (name at least 4)- 5 pts
3. Which variable change would you point to as your most significant accomplishment? Why is this important? How might you have achieved this improvement? - 12 pts
4. How exactly will these changes affect your "bottom line" and your goal of breaking even financially (give details of how and why)? - 10 pts
5. Finally, you want to provide your boss with the quick "elevator speech" to describe your accomplishment to his boss when requesting your bonus. In three sentences or less, describe your analysis of the accomplishment, its significance to the bottom line, and why you deserve a performance based financial bonus. - 10 pts
6. What financial measure in the chart above would you choose to be your next focus to progress closer to your goal of breaking even?What actions might you take to improve it? (Be specific and detailed for full credit)- 10 pts

This is the complete assignment