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31 Cards in this Set
- Front
- Back
Standard Menu
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Fixed menu day to day
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Daily Menu
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Changes everyday
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Cycle Menu
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Menu changes after a specific length of time
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Menu Specials
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menu items will appear on the menu as you desire and be removed when they are either consumed or discontinued
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Price Blending
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Process of pricing products, with very different individual cost percentage, in groups with the intent of achieving a favorable overall cost situation
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Food Cost % =
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Cost of food sold/ food sales
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Food cost% of that item=
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Cost of specific food item sold/ food sales of that item
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Food sale of that item (selling price)=
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Cost of specific food item sold/ food cost % of that item
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Pricing Factor=
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1.00/desired product cost%
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Menu Price
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Pricing Factor X Product Cost
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Contribution Margin=
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Selling Price- Product Cost
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Selling Price=
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Product Cost + Contribution Margin Desired
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Value Pricing
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refers to the practice of reducing all or most prices on the menu in the belief that, as in couponing, total guests counts will increase to the point that total sales revenue also increases.
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bundling
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Practice of selecting specific menu items and pricing them as a group in such a manner that the single menu price of the group is lower than if the items comprising the group were purchased individually
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fixed Payroll
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refers to the amount an operation pays in salaries
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variable payroll
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consisits of those dollars paid hourly employees
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productivity ratio=
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Output/Input
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Job Description
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list of tasks that much be accomplished by the employee hired in a particular job description
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Job specification
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Listing of personal characteristics needed to perform the tasks contained in a particular job description
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Employee Turnover Rate=
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Number of employees separated/number of employees in work force
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Sales per Labor Hour=
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Total sale/Labor hours used.
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Labor dollars per guest served=
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Cost of labor/Guest served
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Guests served per labor Dollar=
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Guests served/cost of labor
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Guests Served per Labor hour=
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Guest Served/Labor hours used
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Estimated Cost of Labor=
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Number of estimated Guests Served/Guests Served per Labor Dollar
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Cost of Labor Budget=
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Cost of Labor/Total Sales
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Standard cost
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labor cost needed to meet established productivity standards, rather than "budgeted cost"
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Labor Hour Budget=
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Forcasted number of guests served/guests served per labor hour standard
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fixed expense
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one that remains contant
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variable expense
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generally increases as sale volume increases, and decreases with sale volume also
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Mixed expense
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one that has properties of both fixed and variable
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