Author Question: Managers estimate food costs by estimating expenses for a future period and dividing that amount by ... (Read 119 times)

berenicecastro · **on:** Aug 20, 2020

Question 1

Last year a restaurant spent 35% of their revenue on their cost of food. Their food sales forecast for the coming year is $987,673. What will be their budget for the coming year for food cost?
◦ $345,685.55
◦ $350,487.32
◦ $356,823.54
◦ $347,567.87

Question 2

Managers estimate food costs by estimating expenses for a future period and dividing that amount by the amount of anticipated sales. This method of estimating food costs is known as the
◦ percentage of sales method.
◦ cost of sales method.
◦ simple markup method.
◦ average cost method.

heinisk01 · **Reply #1 on:** Aug 20, 2020

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