Level 2 Chapter 9 Test

The relationship between sales and the cost of the food that went into those sales. The formula is: Total food cost ÷ Food sales

• Contribution Margin Method
• Total Food Cost Percentage
• Calculating Total Food Cost
• Actual Purchase Price Method

Menu ingredients that have been accurately portioned prior to service.

• Preportioned Items
• Closing Inventory
• Physical Inventory
• Opening Inventory

The physical inventory at the beginning of a given period.

• Opening Inventory
• Total Profit
• Physical Inventory
• Closing Inventory

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.

• Fair Market Value
• Total Payroll Cost
• Insured Value
• Actual Purchase Price

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.

• Recipe Cost Card
• Food Cost Percentage
• Closing Inventory
• Recipe Price Card

The number of each item in the restaurant.

• Inventory
• Closing Inventory
• Perpetual Inventory
• Physical Inventory

The inventory at the end of a given period.

• Cost Of Goods Sold
• Physical Inventory
• Opening Inventory
• Closing Inventory

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

• Accounts Payable
• Inventory
• Accounts Receivable
• Cash

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
• Actual Purchase Price
• Latest Purchase Price
• Total Food Cost Percentage