formulas Flashcards
Average check formula
sales/income/revenue # of customers
the higher the check is, the more profit you are making
Labor turn over rate
# of separated and replaced total # of people in the company
if High its bad- means you are losing employees fast
Inventory turn over rate
cost of goods/
average inventory
high means good
less then 2 means no profit
higher then 4 is good, JIT method,
output over input means
meals/labor hours
food cost
beginning inventory-ending inventory+ food purchases
food cost percentage
daily food cost
daily income X 100
profit margin
net/sales
net profit
sales-expenses
after everything is paid
gross profit
sales-cost of sales
traditional / factor pricing method
(MU) X Raw
mark up
100/food cost %
selling price: prime cost method
uses labor for selling price
raw foods cost + labor cost= X
Food%+ labor% and then 100/(food% + labor %)= y
Y x X
When it says cost or money
EP>AP
edible portion is bigger than as purchased
when is says weight or pound
AP>EP
as purchased is bigger then edible portion
break even in sales volume
fixed cost
1- (Variable cost)
Sales
