List and explain different menu pricing formulas. What will be ...

[newyorker26]

List and explain different menu pricing formulas.
 
  What will be an ideal response?

Question 2

What are the names of Italy's two largest islands?
 
  A) Malta and Madeira
 
  B) Corsica and Atlantis
 
  C) Sicily and Sardinia
 
  D) Marsala and Crete

[InfiniteSteez]

Answer to Question 1

Establishments use a variety of methods to calculate markup and determine selling prices. The factor method, also known as the food cost percentage method, is a popular formula used to determine menu prices based simply on the standard food cost percentage. The contribution margin (CM) method calculates what is left over after the product cost of a menu item is subtracted from the menu selling price. That amount is what each item contributes to paying for labor and other expenses and providing a profit. The ratio pricing method considers the relationship between all expenses and profit, whereas the prime cost method calculates labor costs involved in food preparation, as well as food cost.

Answer to Question 2

C