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Author Question: A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. ... (Read 683 times)

Lisaclaire

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Question 1

A restaurant uses the ratio method of pricing. They have annual nonfood costs of $675,000 and desire a profit of $125,000. Last year they spent $367,000 on food costs. What will be the selling price of an item with food cost of $6.00?
◦ $11.03
◦ $8.18
◦ $7.83
◦ $13.08

Question 2

A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. Using the prime cost method, what would be the selling price of an item with a food cost of $6.00?
◦ $10.00
◦ $13.00
◦ $22.00
◦ $16.00


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Marked as best answer by Lisaclaire on Aug 20, 2020

tmlewis4706

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