Author Question: A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. ... (Read 682 times)

Lisaclaire · **on:** Aug 20, 2020

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

tmlewis4706 · **Reply #1 on:** Aug 20, 2020

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Leah · **Reply #2 on:** Nov 7, 2022

Thx

Author Question: A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. ... (Read 682 times)

Lisaclaire

A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. ...

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tmlewis4706

A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000. ...

Leah

Re: A restaurant with annual sales of $145,000 has labor costs of $45,000 and food costs of $42,000.