food cost
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Gary is the cafeteria manager at the Sunshine Community Hospital. He is reviewing the sales and cost records for the months of June and July. His manager has provided him with food and labor cost control standards for the cafeteria so that Gary can accurately analyze this information.
Sunshine Community Hospital Public Cafeteria Cost Control Standards
Food cost percentage should be lower than 32 percent.
Labor cost percentage should be between 24 and 26 percent.
Table is attached.
Given the information provided, please answer the following questions:
- What is the cafeteria’s food cost for June?
- What is the cafeteria’s food cost For July?
- What is the cafeteria’s food cost percentage for June?
- What is the cafeteria’s food cost percentage for July?
- What is the cafeteria’s labor cost for June?
- What is the cafeteria’s labor cost for July?
- What is the cafeteria’s labor cost percentage for June?
- What is the cafeteria’s labor cost percentage for July?
- Which costs were outside acceptable standards during for June? For July?
- What recommendations should Gary propose to control costs in the upcoming months?
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What recommendations should Gary propose to control costs in the upcoming months?
by Bartleby ExpertWhich costs were outside acceptable standards during for June? For July?
by Bartleby ExpertWhat is the cafeteria’s labor cost for June?
by Bartleby ExpertWhat is the cafeteria’s food cost percentage for July?
by Bartleby Expert- What is the cafeteria’s labor cost percentage for June?
- What is the cafeteria’s labor cost percentage for July?
- Which costs were outside acceptable standards during for June? For July?
by Bartleby ExpertWhat is the cafeteria’s food cost percentage for July?
by Bartleby Expert
