How do you figure out the budgeting for a food business chain store. Please discuss briefly with bar and charts if possible otherwise normal report.
As The average food cost percentage is 35% for a fine dining restaurant and 25% for a quick service restaurant. How do you find this number? Look at your weekly inventory.
Food Cost Percentage = (Beginning Inventory + Purchases – Ending Inventory) ÷ Food Sales.
Check out the example below to see this formula in action.
Beginning Inventory= $15,000
Purchases= $4,000
Ending Inventory = $16,000
Food Sales = $10,000 Food Cost Percentage= (15,000 + 4,000 –
16,000) ÷ 10,000
Food Cost Percentage= 3,000 ÷ 10,000
Food Cost Percentage= 0.30, or 30%
Food Cost Percentage = (Beginning Inventory + Purchases – Ending Inventory) ÷ Food Sales.
Check out the example below to see this formula in action.
Beginning Inventory= $15,000
Purchases= $4,000
Ending Inventory = $16,000
Food Sales = $10,000 Food Cost Percentage= (15,000 + 4,000 –
16,000) ÷ 10,000
Food Cost Percentage= 3,000 ÷ 10,000
Food Cost Percentage= 0.30, or 30%
How do you figure out the budgeting for a food business chain store. Please discuss briefly with ...
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