The average serving size of beef at restaurants is currently 3 ounces, which is 40% smaller than it was several years ago. What was the previous average serving size?
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The average serving size of beef at restaurants is currently 3 ounces, which is 40% smaller than it was several years ago. What was the previous average serving size?
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- Zoom kitchen, a chain of four restaurants in the Chicago area, is known for serving sizable portions of meat and potatoes. During the past four years salad sales have increased from 18% of its sales mix to 40%. This hass pleased company management because the contribution margin on salads is much higher than on meat. Why do you suppose restaurants are so eager to sell beverages and desserts?In the Coquitlam Grill, the actual food cost in March 2023 was $35,000, and the food sales were $109,375. Management couldn’t control the costs efficiently because of the sharply increased prices on many food items and, as a result, the actual food cost percentage was 2.0% higher than the standard food cost percentage. What were the potential food cost savings in this restaurant in April 2023 in dollars? Show the full calculations.Underground Food Store has 4,000 pounds of raw beef nearing its expiration date. Each pound has a cost of $450. The beef could be sold as is for $3.00 per pound to the dog food processing plant, or roasted and sold in the deli. The cost of roasting the beef will be $2.80 per pound, and each pound could be sold for $6.50. What should be done with the beef, and why?
- This year, Hassell Company will ship 4,000,000 pounds of chocolates to customers with total order-filling costs of 900,000. There are two types of customers: those who order 50,000 pound lots (small customers) and those who order 250,000 pound lots (large customers). Each customer category is responsible for buying 1,500,000 pounds. The selling price per pound is 2 per lb for the 50,000 pound lot and 3 per lb for the larger lots, due to differences in the type of chocolate. ABC would likely assign order-filling costs to the customer type as follows: a. 450,000, small; 450,000, large (using pounds as the driver) b. 360,000, small; 540,000, large (using revenue as the driver) c. 750,000, small; 150,000, large (using number of orders as the driver) d. 450,000, small; 450,000, large (using customer type as the driver)A Texas Steak House in Puebla consumes 5,500 pounds of sirloin steak each month. Ari Mendoza, the new restaurant manager, recently completed an engineering degree. He learned that the steak is replenished using an EOQ value of 3,500 pounds. The EOQ value was computed assuming an interest rate of 23 percent per year. Assume that the current cost of the sirloin steak to the steak house is $10 per pound. What is the setup cost used in determining the EOQ value? Mendoza received an offer from a meat wholesaler in which a discount of 20 percent would be given if the steak house purchased the steak in quantities of 6,000 pounds or more. Should Mr. Mendoza accept the offer from the wholesaler? If so, how much can be saved?In the last year, Bakers Score's Donuts and sweets has sold, on average, 1,269 "Fudgie" Brownies per week. This week they introduced fat-free brownies and sold 235 at a price of $3.68 each. They noticed the cannibalization rate of fat-free brownies on Fugie brownies was 43%. Baker's Score's sells their "Fudgie" brownies for $3, with a variable cost of $1. The new Fat-free Brownies have a variable cost of $2. What was the percentage sales decrease that Fudgie brownies incurred??
- Underground Food Store has 4,000 pounds of raw beef nearing its expiration date. Each pound has a cost of $4.50. The beef could be sold “as is” for $3.00 per pound to the dog food processing plant, or roasted and sold in the deli. The cost of roasting the beef will be $2.80 per pound, and each pound could be sold for $6.50. A) What is the gross profit/loss per pound if the raw beef is sold "as is" to the dog food processing plant? If it is negative, use a dash - not parentheses ( ). B) What is the gross profit/loss per pound if the raw beef is roasted and sold in the deli? If it is negative, use a dash - not parentheses ( ). C) Should the beef be sold "as is" or roasted and sold in the deli?Phillip F lamm's Computer Store in Texas sells a printer for $200. Demand is constant during the year, and annual demand is forecasted to be 600 units. Holding cost is $20 per unit per year, whereas the cost of ordering is $60 per order.Currently, the company is ordering 12 times per year (50 units each time). There are 250 working days per yea r, and the lead time is 10 days.a) Given the current policy of ordering 50 units at a time, what is the total of the annual ordering cost and the annual holding cost?b) If the company used the absolute best inventory policy, what would be the total of ordering and holding costs?c) What is the reorder point?In the last year, Bakers Score's Donuts and Sweets has sold, on average, 1,213 ''Fudgie'' brownies per week. This week they introduced fat-free brownies and sold 204 at a price of $3 each. They noticed the cannibalization rate of fat-free brownies on Fudgie brownies was 43%. Bakers Score's sells their "Fudgie" brownies for $3, with a variable cost of $1. The new Fat-Free Brownies have a variable cost of $2. What is the weekly contribution ($) for Bakers Score's "Fudgie" brownie before the introduction of their Fat-Free Brownies?
- At a recent company meeting, Geraldine Erwin, sales manager of Dastoria, a flavored-beverage producer announced, "We have increased our sales by 8 percent in just six months." Suppose six months ago, its sales amounted to $452,000, what is the value of its sales today? $36,160 $415,840 $488,160 $565,000A chef tracks all of his spice factor items over a year and notices that their total value is $2,025. The total value of his food purchases was $80,750 over the same time period. What is the spice factor for this operation?Carreras Café is a Spanish restaurant in a college town. The owner expects that the number of meals served in June will be 40 percent below those served in May, because so many students leave for the summer. In May, the restaurant served 4,200 meals at an average price of $20. In the summer (June through August), the average price of a meal typically increases by 30 percent and the average food cost of a meal increases by 15 percent. Other costs are typically unchanged during the summer. The following cost information is available for May. Service costs (variable with respect to meals) Variable service costs (with respect to meals) Food costs $ 10,200 Labor 16,800 Other variable costs 5,900 Fixed service costs 9,300 Total service costs $ 42,200 Marketing and administrative costs Marketing (variable with respect to meals) 6,400 Administrative (fixed) 4,900 Total marketing and administrative costs $ 11,300 Total costs $ 53,500…
