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3. When setting the final meal price, why should consideration be given to whether a school is elementary or secondary? Food Base Selling Raw Food Cost Final Selling Justification for Price Price final selling price Pizza slice $0.45 Fresh Apple $0.22 Ice cream cup $019 Baked corn chips $0.16 (Base price formula: Raw food cost/desired food cost percent markup: use 38% as the markup) Meals per labor hours Number of employees Number of hours worked daily Total number of hours 1 7 3 5 3 5 3 3 Current total paid labor hours assigned daily Meal categories Total meals/sales Meal Equivalents (ME) Lunch 440 Breakfast 182 Snacks 75 A la carte $200 Total meal equivalents (Use the conversion factors calculated in the Meal Equivalents section to determine ME) Number of meal equivalents Number of labor hours Meals per labor hours (MPLH) (Formula: number of ME/labor hours = MPLH) 4. What are 3 factors that impact the decision-making process of assigning labor in a foodservice operation (be specific)? a. b. C. Desired MLPH Meal Equivalents Desired labor hours needed per day (Desired labor hours needed per day formula: total ME/desired MLPH; use the ME calculated above) Current labor hours Desired labor hours Difference between current & desired labor hours (Difference formula; current labor hours - desired labor hours) 5. Will the foodservice director need to add or reduce hours to achieve the goal of 17 meals per labor hour? Month End of month inventory Value of food purchases January $8,496 $24.021 February $7.144 $18,677 March $9,297 $21,583 Beginning inventory for February + food purchases for February = Food available for February Cost of Food used in February Financial Resources Worksheet 2 This assignment is intended to meet the following Core Knowledge for the RD requirement: KRDN 4.2 Evaluate a budget and interpret financial data. Name: Meal Equivalents Meal categories Total meals/sales Conversion factor Meal equivalents (ME) Student Lunch 699,314 699 Adult Lunch 10.110 10 Breakfast 309,485 206 Snacks 29,873 9.66 Non-reimbursable Food $128,155 sales (a la carte) Total Meal Equivalents (1 student lunch equals 1 ME, 1 adult lunch = 1 ME, 3 breakfasts = 2 ME, 3 snacks = 1ME, $3.15 0.2375 = 1 ME) Revenue Account Dollar amount received Average revenue per meal equivalent Student Meals Sold $281.832 Adult Meals Sold 25,275 Order Food Sales 113,955 Contract Food Sales 14,200 Federal Reimbursement 1,883,524 Donates USDA Foods 145,108 States Supplement 18,835 Interest 3,155 Miscellaneous 5,800 Total Revenue (Formula: Revenue/Total Meal Equivalents; use the total meal equivalents calculated above) Revenue Account Dollar amount Average cost per meal equivalents Salaries and Wages $742.000 Employee Benefits 308,500 Purchased Food 909,370 USDA Food Value 145,108 Supplies 229,870 Capital Equipment 90,000 Indirect Cost 75,000 Overhead 82,395 Total Expenditures (Formula: Expenditures/Total Meal Equivalents; use the total meal equivalents calculated above) Total Per meal equivalent Revenue Expenditures Net gain/loss (Formula: revenue - expenditures; use the total revenue and expenditures calculated above) Expenditure Category Dollar amount % Total Revenue Salaries and Wages $742,000 Employee Benefits 308,500 Purchased Food 909,370 USDA Food Value 145, 108 Supplies 229,870 Capital Equipment 90,000 Indirect Cost 75,000 Overhead 82,395 Total Expenditures (Formula: amount in each category/total revenue x 100; use the revenue calculated above) 1. What are some specific suggestions for reducing the costs of the 2 highest % of total revenue categories? (List 2 suggestions for each category) a. b. C. d. Meal & a la carte Prices Projected Federal and average meal State - USDA Food Possible final cost Reimbursement Value - Base Price Price Student lunch $2.86 $0.37 $0.2375 Adult lunch $2.86 Student breakfast $1.58 $0.29 (Meal prices are based on the average projected costs of the meal - reimbursement - USDA Foods Value) 2. Provide justification for why you set the final prices as you did. a Student lunch: b. Adult lunch: C. Student breakfast: 3. When setting the final meal price, why should consideration be given to whether a school is elementary or secondary? Food Base Selling Raw Food Cost Final Selling Justification for Price Price final selling price Pizza slice $0.45 Fresh Apple $0.22 Ice cream cup $019 Baked corn chips $0.16 (Base price formula: Raw food cost/desired food cost percent markup: use 38% as the markup) Meals per labor hours Number of employees Number of hours worked daily Total number of hours 1 7 3 5 3 5 3 3 Current total paid labor hours assigned daily Meal categories Total meals/sales Meal Equivalents (ME) Lunch 440 Breakfast 182 Snacks 75 A la carte $200 Total meal equivalents (Use the conversion factors calculated in the Meal Equivalents section to determine ME) Number of meal equivalents Number of labor hours Meals per labor hours (MPLH) (Formula: number of ME/labor hours = MPLH) 4. What are 3 factors that impact the decision-making process of assigning labor in a foodservice operation (be specific)? a. b. C. Desired MLPH Meal Equivalents Desired labor hours needed per day (Desired labor hours needed per day formula: total ME/desired MLPH; use the ME calculated above) Current labor hours Desired labor hours Difference between current & desired labor hours (Difference formula; current labor hours - desired labor hours) 5. Will the foodservice director need to add or reduce hours to achieve the goal of 17 meals per labor hour? Month End of month inventory Value of food purchases January $8,496 $24.021 February $7.144 $18,677 March $9,297 $21,583 Beginning inventory for February + food purchases for February = Food available for February Cost of Food used in February Financial Resources Worksheet 2 This assignment is intended to meet the following Core Knowledge for the RD requirement: KRDN 4.2 Evaluate a budget and interpret financial data. Name: Meal Equivalents Meal categories Total meals/sales Conversion factor Meal equivalents (ME) Student Lunch 699,314 699 Adult Lunch 10.110 10 Breakfast 309,485 206 Snacks 29,873 9.66 Non-reimbursable Food $128,155 sales (a la carte) Total Meal Equivalents (1 student lunch equals 1 ME, 1 adult lunch = 1 ME, 3 breakfasts = 2 ME, 3 snacks = 1ME, $3.15 0.2375 = 1 ME) Revenue Account Dollar amount received Average revenue per meal equivalent Student Meals Sold $281.832 Adult Meals Sold 25,275 Order Food Sales 113,955 Contract Food Sales 14,200 Federal Reimbursement 1,883,524 Donates USDA Foods 145,108 States Supplement 18,835 Interest 3,155 Miscellaneous 5,800 Total Revenue (Formula: Revenue/Total Meal Equivalents; use the total meal equivalents calculated above) Revenue Account Dollar amount Average cost per meal equivalents Salaries and Wages $742.000 Employee Benefits 308,500 Purchased Food 909,370 USDA Food Value 145,108 Supplies 229,870 Capital Equipment 90,000 Indirect Cost 75,000 Overhead 82,395 Total Expenditures (Formula: Expenditures/Total Meal Equivalents; use the total meal equivalents calculated above) Total Per meal equivalent Revenue Expenditures Net gain/loss (Formula: revenue - expenditures; use the total revenue and expenditures calculated above) Expenditure Category Dollar amount % Total Revenue Salaries and Wages $742,000 Employee Benefits 308,500 Purchased Food 909,370 USDA Food Value 145, 108 Supplies 229,870 Capital Equipment 90,000 Indirect Cost 75,000 Overhead 82,395 Total Expenditures (Formula: amount in each category/total revenue x 100; use the revenue calculated above) 1. What are some specific suggestions for reducing the costs of the 2 highest % of total revenue categories? (List 2 suggestions for each category) a. b. C. d. Meal & a la carte Prices Projected Federal and average meal State - USDA Food Possible final cost Reimbursement Value - Base Price Price Student lunch $2.86 $0.37 $0.2375 Adult lunch $2.86 Student breakfast $1.58 $0.29 (Meal prices are based on the average projected costs of the meal - reimbursement - USDA Foods Value) 2. Provide justification for why you set the final prices as you did. a Student lunch: b. Adult lunch: C. Student breakfast