CH.9 L2 Food Costing Vocabulary Quiz

The food product in storage which can be expressed in terms of units, dollar values or both.

• Recipe

• Invoice

• Closing Inventory

• Inventory

The physical inventory at the beginning of a given period

• Total food cost

• Opening inventory

• Groceries

• Inventory

The inventory at the end of a given period

• Closing Inventory

• Opening Inventory

• Perishable Items

• Packing Slip

The relationship between sales and the cost of the food that went into those sales.

• Food Sales

• Revenue

• Actual purchase price

• Total Food Cost Percentage

A table of ingredient costs for each item in a standardized recipe that is a tool used to calculate the standard portion cost for a menu item.

• Forecast

• Recipe Cost Card

• Total Food Cost Percentage

• Historical Data

Menu ingredients that have been accurately portioned prior to service

• Preportioned Items

• Recipe

• Yield

• Cost Control

The number of each item in the restaurant

• Inventory

• Preportioned Items

• Opening Inventory

• Physical Inventory

Method of determining the value of closing inventory in which the number of units of each item is multiplied by the most recent price paid for the item

• Recipe Cost Card

• Latest Purchase Price

• Food Costs

• Actual Purchase Price

Method of determining the value of closing inventory in which the number of units of each item is multiplied by the price actually paid for each unit

• Latest Purchase Price

• Closing Inventory

• Actual Purchase Price

• Total Food Cost Percentage