Daily Food Cost Report: Depends on information from cash receipts (total incomefrom sales), censusrecord, cost...

90.2K

Verified Solution

Question

Finance

Daily Food Cost Report: Depends on information from cash receipts (total incomefrom sales), censusrecord, cost of food for the day(storeroom issues + direct purchases of perishable foods)

Total cost of food for the day X 100 = % of income spent for food

Total income for the day

Compare this percentage to the standard set for the operation.

Food Cost Reports can be done daily and will be calculated cumulatively for the month (or whatever the length of the established reporting cycle).

Calculate daily food cost for May 1and for thewhole weekfrom the example below.

Food cost for May 1 = _________

Food cost for the week = ___________

Food cost percentage for May (so far) is _____ %.

image

** You have to answer the questions base on filling the table.

University Commons Daily Food-cost Report Year Tuesday May 1 Census Sales 1212 $6,363 Wednesday May 2 Census Sales 1301 $6,830 521 $5,210 Thursday May 3 Census Sales 1187 $6,232 Friday May 4 Census Sales 1309 $6,872 Saturday May 5 Census Sales 924 $4,851 Sunday May 6 Census Sales 955 $5,014 Day and Date: Income and Census: A. From cafeteria sales (Cash register report) B. From parties (Charges C. Total today D. Total to date E. Cumulative total for month Food cost: F. Food cost today G. Total food cost to date H. Cumulative total for month Food-cost percentage $2,545 $5,418 $2,493 $2,886 $1,989 $1,755 University Commons Daily Food-cost Report Year Tuesday May 1 Census Sales 1212 $6,363 Wednesday May 2 Census Sales 1301 $6,830 521 $5,210 Thursday May 3 Census Sales 1187 $6,232 Friday May 4 Census Sales 1309 $6,872 Saturday May 5 Census Sales 924 $4,851 Sunday May 6 Census Sales 955 $5,014 Day and Date: Income and Census: A. From cafeteria sales (Cash register report) B. From parties (Charges C. Total today D. Total to date E. Cumulative total for month Food cost: F. Food cost today G. Total food cost to date H. Cumulative total for month Food-cost percentage $2,545 $5,418 $2,493 $2,886 $1,989 $1,755

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students