If a restaurant has a standard food cost of 40, and actual food cost of 44 and a product mix of 44, you could deduce that:
a. the menu is incorrectly priced.
b. the operation probably has a theft problem.
c. the manager should be fired
d. all of the above
e. you can't deduce anything with the data given
Question 2
In a restaurant where the average entre price is 30, what should be true about the distribution of wine bottle prices?
a. The majority of bottles should be priced between 60 and 90.
b. The majority of bottles should be priced between 30 and 120
c. No wines should be priced below 45.
d. A and C are true.
e. B and C are true.
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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.