IPAG NATIONAL HIGH SCHOOLIpag, Mariveles, BataanTHIRD ASSESSMENT IN T.L.E. 7Name:Section:Score:L Directions: Write the word TRUE if the statement is correct and FALSE if it is incorrect.Write your answer on the space provided.1. Food cost analysis is the first step in creating a restaurant budget, and its value cannot beunderstated.2. Cost principle is an accounting principle that requires assets, liabilities, and equityinvestments to be recorded on financial records at their original cost.3. Markup is also called "Profit".4. One of the factors that affects the food cost is the supply and demand.5. Food costing is the best way to manage profits.6. In order to determine the food costs, you have to determine first the cost of everyingredient in a certain recipe.7. Shrinking profits may be a sign that your food cost is out of line.8. As Purchased Quantity is also known as the "true cost".9. Selling price is the difference between how much an item costs you, and how much yousell that item for.10. Food costing does not protect your inventory against over plating, theft, spoilage andwaste.IL Directions: Get the Peso Markup and calculate the Percentage Markup based on theSELLING PRICE. Write your answer on the space provided.Purchase Cost Selling PricePeso MarkupPercentageMarkupItemsPizza120.00150.0011.21.2eDoughnutBurger16.0020.0012.22.21.0025.0013.23.Fries18.0023.0014.24.FootlongHotdogShawarmaSandwich33.0040.0015.25.7.0012.0016.26.66.0079.0017.27.28.0024.0055.0035.0018.28.Orange JuiceSoftdrinksFormule:Peso Murkup Setling Price-Purchase Cast.Percentage Markup Peso Markup/Selling Price x 10029.0064.0019.29.20.30.IIL. Directions: Below shows sample cost production calculation specifically the pesomarkup. Try to name the missing item/s. Choose your answer from the bax and writothe letter of the correct

The expenses that are being incurred for carrying out operations of the business are known as costs.…

L Directions: Write the word TRUE if the statement is correct and FALSE if it is incorrect. Write your answer on the space provided. 1. Food cost analysis is the first step in creating a restaurant budget, and its value cannot be understated.

L Directions: Write the word TRUE if the statement is correct and FALSE if it is incorrect. Write your answer on the space provided. 1. Food cost analysis is the first step in creating a restaurant budget, and its value cannot be understated.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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