Cost Control Final Exam Questions & Answers 2024/2025
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Course
Cost Control
Institution
Cost Control
Cost Control Final Exam Questions & Answers 2024/2025
Standardized recipe - ANSWERScontrols both the quantity and quality of what the kitchen will produce
Product specification (Spec) - ANSWERSa detailed description of an ingredient or menu item. Helps you identify the exact item.
sales ...
Cost Control Final Exam Questions &
Answers 2024/2025
Standardized recipe - ANSWERScontrols both the quantity and quality of what the kitchen will produce
Product specification (Spec) - ANSWERSa detailed description of an ingredient or menu item. Helps you
identify the exact item.
sales forecast - ANSWERSpredicts the number of guests you will serve and the revenues they will
generate a given future time period
Sales history - ANSWERSTracks Revenue and is usually tracked through the POS system.
Sales to date - ANSWERSis the cumulative total of sales reported in the unit from a starting date to the
current date
fixed average - ANSWERSan average in which you determine a specific time period
rolling average - ANSWERSthe average amount of sales or volume over a changing time period
Guest Count - ANSWERSterms used in the hospitality industry to indicate the number of people you have
served.
weighted average - ANSWERSan average that weights the numbers of guests with how much they spend
in more that one time period
Sales varience - ANSWERSare changes from previous sales levels
, popularity Index (Menu Mix) % - ANSWERSthe percentage of total guests chhosing a given menu item
from a list of alternatives
Predicted number to be sold - ANSWERSa specific menu item is based on an estimate of the total
number of guests expected
Opportunity cost - ANSWERSis the cost of foregoing other opportunities when making the purchase
decision
Purchase point - ANSWERSthe point in time when an item should be reordered.
Par level (max-min) - ANSWERSMax and Min you want on shelf once you hit your min you know when to
order more
working stock - ANSWERSthe amount of an ingredient you anticipate using before that item again
Safety stock - ANSWERSthe extra amount of that ingredient you decide to keep on hand to meet higher
than anticipated demand
best price - ANSWERSmore accurately stated as the lowest price that meets the long-term goals of both
the foodservice operation and its vendors
contract price - ANSWERSan agreement between buyer and seller to hold the price of a product constant
over a defined period of time
product yield - ANSWERSis the amount of product that you will have remaining after trimming, or
cleaning, portioning and cooking. Edible portion is the same as yield weight.
Minimum order requirment - ANSWERSis the smallest order that can be placed with a vendor who
delivers
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