Intro to Food Cost

The dollar amount or percentage of

food used in a given time period vs food sold for that same time period is known as what?

• food sales

• cost of goods

• food cost

What is the average food cost percentage for restaurants?

• 25% - 30%

• 20% - 25%

• 10%-20%

Cost of Goods Sold (COGS) is the dollar amount of _________ _________during a particular time frame.

• food sold

• food used

• fold bought

What is the correct formula for cost of goods sold (COGS)?

• beginning inventory + food sales - ending inventory

• beginning inventory - purchases + ending inventory

• beginning inventory + purchases - ending inventory

How much money the restaurant made from the sale of food items during a specific time is known as what?

• food inventory

• food sales

• food expenditure

Where can information on total food sales in a restaurant be obtained?

• food log bog

• inventory receipt system

• POS System

For any given period, food inventory should usually be taken

• at the same time

• at different times

• no time

After calculating the food cost for the month of May, Mrs. Hamilton realizes that the food cost averages 37%. Is this a good food cost percentage?

• YES

• NO

What is the correct formula for calculating food cost percentage?

• cost of goods sold + food sales X 100

• cost of goods sold / food sales X100

• cost of goods sold / food inventory X 100

Mr. Burrows is the F&B Manager at Oh Andros Restaurant and needs your help to calculate the food cost for the month of September.

The beginning inventory is $3,000 and food purchases for the month totaled to $2,000. The ending inventory is $2,000.

According to the POS system, total food sales for the month of September is $12,000.

What is the FOOD COST for the month of September?

• 25%

• 0.25%

• 025%