HTF 201 Study Guide - Midterm Guide: Income Statement, Bulk Purchasing, Services Menu

• School: Ryerson University
• Department: Hospitality/Tourism
• Course: HTF 201
• Professor: Zhen L U

Document Summary

Profit = revenue food and beverage costs labor costs overhead costs. Fixed costs those unaffected by changes in sales volume. Variable costs related to business volume, every increase or decrease in cost. Semi-variable (mixed) costs both fixed and variable elements. Determining the multiplier to mark up the ingredients" costs. Base selling price = ingredient cost x multiplier: prime ingredients mark-up. Base selling price = prime ingredient"s cost multiplier: mark-up with accompaniment cost. Determining the average portion cost of all non-entr e and other inexpensive items (plate) Based selling price = (entr e portion cost + plate portion cost) multiplier. Contribution margin pricing: determining the average contribution margin required per guest. # of expected guests: base selling price = average contribution per guest + the item standard food cost. Ratio pricing requirements: the ratio of food costs to contribution margin (all non-food costs and profit.