Answered: Problem 1What is the standard recipe…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 1What is the standard recipe adjustment factor, given the following information?

original recipe		New recipe		AF
Number of protion	Portion size	Number of portion	Portion size
35	.25 cup	75	.25cup
75	4oz	35	4oz
35	.5cup	35	.25cup
75	6oz	75	10oz
35	6oz	75	8oz
75	.5cup	35	.25cup

Problem 2

Determine the portion cost for the steak platter based upon the following information:

4oz sirloin	$10.15/lb
1 baked potato	12 potatoes for $3.70
1oz sour cream	5lb jar for $7.15
2 dinner rolls	$3.85 dozen
4 oz corn	5lb for $5.75

Problem 3

Calculate the Contribution Margin (CM) and Food Cost % given the following data:

Item	No sold	Revenue	food cost	CM	Food Cost %
A	25	180	45
B	40	230	62
C	45	300	90
D	20	340	100

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