Food Costing Terminology

Food Cost includes the cost of the food ingredients and the cost of the labour needed to make a menu item.

• TRUE

• FALSE

The measure of a successful food business is....

• To be profitable

• To get good reviews on Tripadvisor

• To serve the cheapest food in town

• To serve the best food in town

"QSR" means...

• Quality Status Restaurant

• Quick Service Restaurant

• Quite Special Restaurant

A well-designed menu shows...

• A list of choices a customer can make.

• The price a customer can expect to pay

• Descriptions of the dishes on offer

• All of the above

How does a food business make money?

• By selling food and beverages for more than the cost of all expenses

• By having a celebrity chef and getting on TV

• By getting great reviews in Metro

• By being the cheapest in town and getting the most customers

COGS means...

• Cost Of Goods Sold

• Cost Of General Sales

• Celery Onions Garlic Salt

• Customer of Great Standing

COGS has the same meaning as Food Cost.

• True

• False

Gross Profit means...

• Profit made on selling an item after ALL costs are deducted

• Profit made on selling an item after Food Cost ONLY is deducted.

Key expenses for a food business include...

• Food Cost

• Labour Cost

• Rent

• Utilities (electricity, water, gas)

• All of the above