Calculate Cost of Food Sold

Open the Cost of Food Template, save the template to your files, and complete the three problems. Use Microsoft Excel formulas to calculate the food cost and the percentages for each problem. Be sure to review the video below on how to use formulas in Microsoft Excel. There are also some terrific videos in Lynda.com via the Library to assist with Microsoft Excel. There is also a sample completed Cost of Food template for you to review to get started on the assignment.
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cul209_cost_of_food_problems_template.xlsx

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SAMPLE PROBLEM 1
Actual Cost of Food
Compute the cost of sales using the shaded cells from the following information
Inventory March 31
$56,400.00
April Purchases:
Meats
Dairy
Fruits and Vegetables
All Others Foods
Total Purchases
No. of Employees Eating Daily
Cost per Employee Meal
$15,750.00
8,800.00
6,598.00
44,678.00
75,826.00
125
$2.50
Inventory on April 30th
$32,450.00
Fill In the Blanks – use Excel Formulas
Beginning Inventory
Purchases
Goods Available for Sale
Ending Inventory
Cost of Food Consumed
Employee Meals (30 days)
Cost of Food Sold
Chapter 3
Q1
$56,400.00
75,826.00
132,226.00
32,450.00
99,776.00
9,375.00
90,401.00
Beginning Inventory + Purchases
Cost of Goods – Ending Inventory
Number of Employees x Cost Per Employee Meal x Days in the Month
Cost of Food Consumed – Employee Meals
If the sales for the month were $300,500.00 then what is the food cost percentage?
Cost of Food Sold
Sales
Food Cost Percentage
Chapter 3
Q1
90,401.00
300,500.00
30% Cost of Food Sold/Sales
SAMPLE PROBLEM 2
Maria has the following balances for her small coffee shop restaurant:
Food Sales
$44,000
Beverage Sales
$16,000
Food Purchases
$2,000
Beverage Purchases
$1,800
Beginning Food Inventory
$600
Beginning Beverage Inventory
$500
Ending Food Inventory
$200
Ending Beverage Inventory
$300
Fill in the blanks – use formulas
a. What is the cost of food sold?
Beginning Food Inventory
Purchases
Ending Food Inventory
Cost of Food Sold
$600
$2,000
$200
$2,400 Beginning Inventory + Purchases – Ending Inventory
b. What is the Food Cost Percentage?
Cost of Food Sold
$2,400
Food Sales
$44,000
Food Cost Percentage
5% Cost of Food Sold/Food Sales
c. What is the cost of beverages sold?
Beginning Beverage Inventory
$500
Purchases
$1,800
Ending Beverage Inventory
$300
Cost of Beverage Sold
$2,000 Beginning Inventory + Purchases – Ending Inventory
d. What is the Beverage Cost Percentage?
Cost of Beverage Sold
$2,000
Beverage Sales
$16,000
Beverage Cost Percentage
13% Cost of Beverage Sold/Beverage Sales
hases – Ending Inventory
hases – Ending Inventory
SAMPLE PROBLEM 3
Joe Cobb is the food and beverage manager for the Davis Hotel. He has the following balance
Food Purchases
Beverage Purchases
Food Sales
Beverage Sales
Beginning Food Inventory
Ending Food Inventory
Beginning Beverage Inventory
Ending Beverage Inventory
$75,000
$76,000
$236,000
$222,000
$9,500
$8,800
$14,500
$6,600
Complete the following:
a. Calculate the cost of food sold.
b. Calculate the cost of beverage sold.
c. What was the food cost percentage?
d. What was the beverage cost percentage?
$75,700
$83,900
32%
38%
Beginning Food Inventory+Food Purch
Beginning Beverage Inventory+Beverag
Cost of Food Sold/Food Sales
Cost of Beverage Sold/Beverage Sales
PROBLEM 1
Actual Cost of Food
Compute the cost of sales using the shaded cells from the following information
Inventory March 31
$22.184,50
April Purchases:
Meats
Dairy
Fruits and Vegetables
All Others Foods
Total Purchases
No. of Employees Eating Daily
Cost per Employee Meal
$11.501,00
6.300,00
9.641,00
32.384,00
59.826,00
85
$1,25
Inventory on April 30th
Fill In the Blanks – use Excel Formulas
Beginning Inventory
Purchases
Goods Available for Sale
Ending Inventory
Cost of Food Consumed
Employee Meals (30 days)
Cost of Food Sold
Chapter 3
Q1
$23.942,06
If the sales for the month were $186,500.00 then what is the food cost percentage?
Cost of Food Sold
Sales
Food Cost Percentage
Chapter 3
Q1
PROBLEM 2
Maria has the following balances for her small coffee shop restaurant:
Food Sales
$32.000
Beverage Sales
$12.000
Food Purchases
$3.000
Beverage Purchases
$1.500
Beginning Food Inventory
$800
Beginning Beverage Inventory
$400
Ending Food Inventory
$300
Ending Beverage Inventory
$200
Fill in the blanks – use formulas
a. What is the cost of food sold?
Beginning Food Inventory
Purchases
Ending Food Inventory
Cost of Food Sold
b. What is the Food Cost Percentage?
Cost of Food Sold
Food Sales
Food Cost Percentage
c. What is the cost of beverages sold?
Beginning Beverage Inventory
Purchases
Ending Beverage Inventory
Cost of Beverage Sold
d. What is the Beverage Cost Percentage?
Cost of Beverage Sold
Beverage Sales
Beverage Cost Percentage
PROBLEM 3
Joe Cobb is the food and beverage manager for the Davis Hotel. He has the following balance
Food Purchases
Beverage Purchases
Food Sales
Beverage Sales
Beginning Food Inventory
Ending Food Inventory
Beginning Beverage Inventory
Ending Beverage Inventory
Complete the following:
a. Calculate the cost of food sold.
b. Calculate the cost of beverage sold.
c. What was the food cost percentage?
d. What was the beverage cost percentage?
$60.000
$56.000
$136.000
$128.000
$8.000
$7.200
$12.000
$5.600
RECIPE NAME: Vegan Chocolate Pie
BUSINES
Page:
Pan Size:
Cooking Temperature:
Serving Temperature:
# of Servings (Yield):
Serving Size:
Pre-Prep. Time:
Final Prep./Assembly Time:
1
Weight
Unit
INGREDIENTS
Volume
Unit
PROCEDURE
Firm silken firm tofu
12 ounces
1,1/2 cup
Blend with almond milk and almond butter until smooth
Almond breeze chocolate almond milk
8 tablespoons
1/2 cup
Blend with almond butter and tofu until smooth
Almond butter
8 tablespoons
1/2 cup
Blend with almond milk and tofu until smith
Chocolate chips
12 ounces
1,1/2 cup
Melt the chips and add to the blender and blend with the mi
Flacky sea salt for topping
pinch
1/8 teaspoons
sprinkle the sea salt on to the pie crust
Pie Crust
3 teaspoons
1 tablespoon
Pour filling into a crust and wait for 12 to 24 hours before se
BUSINESS CONCEPT NAME
OCEDURE
utter until smooth
il smooth
smith
and blend with the mix until smooth
to 24 hours before serving
RECIPE COSTING SHEET
NAME OF RECIPE: Vegan Chocolate Pie
INGREDIENTS
Firm silken firm tofu
Almond breeze chocolate almond milk
Almond butter
Chocolate chips
Flacky sea salt for topping
Pie Crust
Quantity
12 ounces
8 tablespoons
8 tablespoons
12 ounces
pinch
3 teaspoons
Yield
Portion Size
Weight/Volume/Count
1,1/2 cup
1/2 cup
1/2 cup
1,1/2 cup
1/8 teaspoons
1 tablespoon
Purchase Pack Purchase Price
Unit Cost
12 pack
$16.70 11 pounds
3 pack
1 pack
$18 12 pounds
$10.49 7 pounds
Extension
0.7
0
0.49
1 box
$130.50 2.61 pounds
0.61
4 pack
$5.99 4 pounds
0.99
12 pack
$31.08 21 pounds
0.08
Total Cost
$2.87
Cost per portion
#DIV/0!
Menu Price
$8.00
Gross Profit per Portion
#DIV/0!
Food Cost Percentage#DIV/0!
<== total of the extension <=== total cost divided by <== From the menu - how <== Menu price minus cos <== cost per portion divid <== From the menu - how much the guest pays for the dish Name of the Establishment Income Statement Template Number of Seats Table Turnover Rate Number of days open per year Average Check - Daily Steamy Coffee Bar 50 80% 324 7.5$ per customer Description Revenue Complements to coffee Beverages Total Revenues Revenue from cookies, milk and biscuits Revenue from coffee beverages Sum of all revenues generated Description of this expense Cost of Goods Sold Cookies Milk Biscuits Coffee Splenda sugar Caramel syrup Cream White sugar Granulated sugar The cost of purchasing cookies The cost of purchasing milk The cost of purchasing biscuits The cost of purchasing raw coffee used to make coffee beverage The cost of purchasing splenda sugar used to make coffee beverage The cost of purchasing caramel syrup used to make coffee beverage The cost of purchsing red cream used to make coffee beverage The cost of purchasing white sugar used to make coffee beverage The cost of purchasing granulted sugar used to make coffee beverage Page 1 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division Unsweetened cocoa Labor Costs Wages - Hourly Employees Wages - Salary Benefits Taxes Total Labor Costs Other Expenses Accounting Advertising - Marketing Promotional Depreciation and Amortization Electrical Gas Insurance - Liability Insurance - Property Interest and Bank Charges Legal Licenses Maintenance Phone Property Taxes Rent Rental of Equipment Supplies Trash Removal Vehicle Expenses Water and Sewage The cost of purchasing unsweetened cocoa used to make coffee beverage The payroll for employees who are paid on hourly basis The payroll for employees who are on salary. The cost of benefits offered to employees e.g. Insurance The costs of mandatory payroll taxes for all employees Sum of all labour costs incurred The cost of outside accountant or bookkeeping services The cost of promoting the restaurant and advertising the establishment This an internal cost of equipments or machinery used over its useful life. The cost of electricity for the coffe bar The cost of gas or propane for the restaurant Cost of insurance for liability issues Cost of insurance for the building and its contents The cost of interest charged on loans and other bank charges The cost of outside legal services The cost of the government-required licenses to operate the establishment The cost associated with maintaining and repairing the restaurant and any equipment The cost of the phones for the restaurant Payment of tax on the property The cost to rent the space The costs of a temporary rental of a piece of equipment The cost of other items used in the restaurant and other miscellaneous items The cost of trash removal, grease removal, and other debris from the restaurant Expenses associated with operating a company vehicle—gas, insurance, repairs, etc The costs of water and sewage for the restaurant Page 2 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division Total Operating Expenses sum of all expenses incurred Operating Profit (Loss) The difference between total revenues and expenses Net Income (Loss) Page 3 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division Estimated Percentage of total sales 30% 70% 100% Controllable or uncontrollable? Controllable Controllable Controllable Controllable Controllable Controllable Controllable Controllable Controllable Fixed, Variable, Semi-Variable, Step Variable cost Variable cost Variable cost Variable cost Variable cost Variable cost Variable cost Variable cost Variable cost Variable cost Page 4 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division Controllable Variable cost Controllable Controllable Controllable Uncontrollable Fixed costs Fixed costs Fixed costs Fixed costs Controlable Variable cost Controlable Controlable Controlable Controlable Controlable Controlable Controlable Controlable Uncontrolable Controlable Controlable Uncontrolable Uncontrolable Controlable Controlable Controlable Controlable Controlable Variable cost Fixed cost Semi-variable Semi-variable Fixed cost Fixed cost Variable cost Variable cost Fixed cost Variable cost Variable cost Fixed cost Fixed cost Variable cost Variable cost Variable cost Variable cost Semi-variable Page 5 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division Page 6 of 1 CUL209 Sustainable Purchasing and Controlling Costs © 2015 The Art Institute of Pittsburgh - Online Division INCOME STATEMENT DESCRIPTIONS Revenue Food Beverage Catering Banquet Merchandising Total revenues Cost of Goods Sold Food Beverage Total cost of Goods Labor Costs Wages—hourly employees Salaries Benefits and taxes Total labor costs Other Operating Expenses Accounting Advertising—Marketing— Promotional Chemicals Depreciation and Amortization Electrical Fees Gas Insurance Insurance—Liability Insurance—Property Insurance—Workman's Compensation Internet Legal Licenses Linen Rentals Maintenance Music and entertainment Paper goods Phone Professional Fees Property Taxes Rent Rental of equipment Supplies Trash removal Vehicle expenses Water and sewage Total operating expenses Income taxes Net income (loss) EMENT DESCRIPTIONS DEFINITIONS Revenue from food sold Revenue from alcoholic beverages sold—nonalcoholic beverages are included in food Revenue from serving food and beverage at parties located off premise Revenue from serving food and beverage in a banquet or party room on the premise Revenue from sale of durable goods such as T-shirts, mugs, key chains, bottled sauces, etc. The sum of all the above revenues The cost of purchasing food served in the restaurant The cost of purchasing alcohol served in the restaurant The sum of all food, beverage, and promotional items sold The payroll for employees who are paid by the hour. Taxes and benefits are included in the benefits line. The payroll for employees who are on salary. Taxes and benefits are included in the benefits line. The costs of mandatory payroll taxes for the employees The sume of all the labor costs mentioned above The cost of outside accountant or bookkeeping services The cost of promoting the restaurant and advertising the establishment The costs of chemicals such as dishwashing soap and cleaning chemicals used in the restaurant The cost of equipment spread over its useful life. For example, a stove may cost $10,000 and be used for ten years. Depreciation allows the owner to spread this cost over the income statements. Note that this is an internal cost—it is not "paid" to anyone. The cost of electricity for the restaurant The costs associated with any fees not included in other category such as an assessment or usage fee by a government agency The cost of gas or propane for the restaurant The cost of all other insurance except those associated with payroll Cost of insurance for liability issues Cost of insurance for the building and its contents Cost of mandated workman's compensation insurance The cost of Internet access The cost of outside legal services The cost of the government-required licenses to operate the establishment The cost of renting linens from a third party The cost associated with maintaining and repairing the restaurant and any equipment Payments for bands, piped in music services, games, etc. The cost of paper goods such as to-go containers, paper napkins, and other paper goods used by the establishment The cost of the phones for the restaurant For any other professional services except legal and accounting Payment of tax on the property The cost to rent the space; if it is owned, then the monthly mortgage payments are on the statement of cash flows The costs of a temporary rental of a piece of equipment The cost of other items used in the restaurant such as guest checks or other miscellaneous items The cost of trash removal, grease removal, and other debris from the restaurant Expenses associated with operating a company vehicle—gas, insurance, repairs, etc The costs of water and sewage for the restaurant Total of the above expenses The payments made to the federal, state, and local government on the sales received The net profit or loss for the business concept DEFINITIONS Fixed costs or expenses are those that do not fluctuate with changes in production level or sales volume. Variable costs or expenses are those that respond directly and proportionately to changes in activity level or sales volume. Semi-variable are costs and expenses a business uses regardless of sales; as sales increase they tend to increase such as linen Step costs occur when a business moves beyond the limits of their fixed cost structure Step costs typically only occur when a company expands or meets its production capacity. A controllable cost is one that the business owner has control over. The food that is purchased is a good example and is usually one of the highest costs of any food service business. Noncontrollable costs are those over which the owner has no control. Taxes are one example of a noncontrollable cost; the lease or rent of the building is another. Determining Food and Labor Cost Percentages Certain fast food restaurants can achieve labor cost as low as 25 percent Table service restaurants are more likely to see labor in the 30 percent to 35 percent range. Food costs (including beverages) for the restaurant industry run typically from the 25 percent to 38 percent range. Percentages will vary upon the style of restaurant and the mix of sales. Average check is the average amount each guest spends in a restaurant. The average check for a restaurant can be calculated by looking at the median-priced amount of customers seated at a time, the most popularly ordered items from the menu, and then calculating the average amount of customers seated at a time. Table Turnover Rate measures how often customers occupy the tables during a measurement period. Divide the number of parties served by the number of tables to calculate the table turnover rate. For example, if there are five tables that serve 20 customers over the lunch hour The table turnover rate is 4 turns per table during the lunch hour. y level or sales volume. d to increase such as linens. stomers seated at a time, omers seated at a time. Pua 1 Yu Chen Pua Robert Donato Sustainable Purchasing and Cost Control April 4 Business Concept Business Concept Description Concept introduction Steamy Coffee Bar is a coffee shop aiming to cater for the local coffee addicts who place coffee as their daily necessity. The business will be from 8.am to 11.pm so that it can capture all coffee users with different work schedules. This coffee bar is usually busy 8.am and 10.am. Steamy Coffee Bar joins other businesses in the fast food industry by offering exceptional services in making well brewed and high-quality coffee and Indian espresso. Apart from coffee, the business also provides other products that are complements to coffee like biscuits, cookies, and milk. The coffee products will be offered at a moderately high price. House coffee ranges from $1.8 to $2.5; Espresso costs $1.7-$2.40, Mocha, Latte, Caramel Macchiato, and flat white ranges between $2.7 to $3.5. The name Steamy was inspired by how coffee leaves a steamy effect on its users. Location The business is in Oregon City near The Art Institute Philadelphia campus, with the address 1622 Chestnut St, Philadelphia, PA 19103, ASA. Other learning institutions like Curtis institute of Music, Pennsylvania Academy of Fine Arts, and Moore Collage of Arts and Design also surround the area. This business location was identified because of its proximity since it wanted to target the university students and the university staffs as well as creating a culture of serving a core group of repeat customers. Concept Setting Pua 2 The building in which this coffee bar is set up has a comfortable atmosphere, big space, and with ancient architecture. Apart from the good coffee and the excellent services from the staffs, Steamy Coffee bar is set up in a historically preserved building which gives it an aesthetic advantage over other coffee business in the area. The interiors and exteriors portray the Gothic architecture with a well-fitted lighting system that brings both feelings of ancient and modernity (DaSilva & Trkman, pg. 379-389). Most people like visiting the coffee bar since they can have enough space and good air circulation to enable them even work from there. Recipes SERVE (pg.67-98) provides information on recipes of Mocha, Caramel Macchiato, and Espresso as follows: Caramel Macchiato 1. Six Ounces of brewed coffee 2. Six ounces of steamed milk 3. One to two teaspoons of Splenda sugar 4. Three teaspoons of caramel syrup 5. Red whipped cream, and 6. Caramel syrup topping, drizzled. Mocha i. One cup of hot brewed coffee ii. A tablespoon of unsweetened cocoa iii. A tablespoon of white sugar iv. Two tablespoons of milk Indian Espresso i. Instant coffee powder ii. One cup of milk Pua 3 iii. One tablespoon of water iv. Granulated sugar v. A sprinkle cocoa powder Pua 4 Work Cited DaSilva, C. M., & Trkman, P. (2014). ... 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