Jean Inman Domain 3 Topic C Highlighted Topics Already Passed

Assess ability to meet long term debt, solvency -- total debt and total liabilities; debt to asset ratio {Ans: net worth ratios}Formula for food cost per meal {Ans: food cost per month/ # of meals per month}varies directly with changes in sales (revenue); directly involved in service to customer {Ans: direct, variable, flexible costs}What does daily food cost report (percentage) tell you? {Ans: what percent of the income was spent on the food sold}cost of the raw food and beverages sold (COGS) {Ans: cost of sales}How to determine budget projections? {Ans: 1. determine actual costs for this year 2. multiply times expected increase for next year 3. add the increase in cost to the current cost 4. Total all costs}