HM 351 Lecture 9: class ch. 9

• School: JMU
• Department: Hospitality Management
• Course: HM 351
• Professor: Tony Kim

Document Summary

Transfers: values for transfers, should be determined on a daily basis, pro(cid:373)otio(cid:374) e(cid:454)pe(cid:374)se, e(cid:373)plo(cid:455)ees" (cid:373)eals, ste(cid:449)ard sales, any alcoholic beverage transferred from the bar to the kitchen, e(cid:373)plo(cid:455)ees" (cid:373)eals. Free or reduced-cost employee meals are a benefit: ending inventory for one accounting period becomes the beginning inventory figure for the next period. Determining actual food expense: cost of food sold: the dollar amount of all food actually sold, thrown away, wasted, or stolen. The daily cost of food: the daily cost of food can be determined in the following way: Cost of directs (cid:894)fro(cid:373) the recei(cid:448)i(cid:374)g clerk"s dail(cid:455) report(cid:895) Adjustments that increase daily cost (transfer from bar or other units) Adjustments that decrease daily cost (transfer from kitchen to bar, etc. ) Daily reports: shows food cost, food sales, and food cost percent for any one specific day and for all the days to date in the period, compares these figures to those for a similar period.