HM 351 Lecture Notes - Lecture 2: Fixed Cost
4 Sep 2018
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Document Summary
Understanding the p & l (profit & loss) statement. A simplified statement that details revenue, expenses, and profit for a given period of time. Lists revenue, food & beverage cost, labor cost, other expense, and profit. Describes the efficiency and profitability of an operation. P & l purpose: to identify revenue, expenses, and profit for a given time period, common percentage use in p & l, food & bev cost , labor cost , overhead cost , profit % Food & beverage cost % = f & b cost / revenue. Labor cost % = labor cost / revenue. Overhead cost % = overhead cost / revenue. Sales % = 100% = fb % + labor % + overhead % + cost % Oc% = sales% - (fc% + lc% + p%) Foods and beverages become costs to restaurants when the food and beverages are. F & b is an inventory/ asset before consumed.
