CFSP Cost Control 2

Question 1

A restaurant's food cost percentage is 34% with total food sales of $45,000. What is the cost of food sold?

Accepted Answer

$15,300

Answer

$45,000 × 0.34 = $15,300 cost of food sold.

Question 2

Which inventory valuation method assigns the cost of the most recently purchased items to goods sold first?

Accepted Answer

LIFO

Answer

LIFO (Last In, First Out) assumes the most recently purchased items are sold first.

Question 3

What does the term 'as purchased' (AP) weight refer to in foodservice cost control?

Accepted Answer

Weight of food as it arrives before any processing

Answer

AP weight is the weight of the food item as it is received before any trimming, cooking, or processing.

Question 4

A steakhouse purchases whole beef tenderloins at $12/lb AP. After trimming, the yield is 70%. What is the edible portion cost per pound?

Accepted Answer

$17.14

Answer

EP cost = AP cost ÷ yield % = $12 ÷ 0.70 = $17.14 per pound.

Question 5

Which of the following best describes a 'contribution margin' in foodservice operations?

Accepted Answer

The dollar amount remaining after subtracting food cost from menu price

Answer

Contribution margin is the selling price of a menu item minus its food cost, representing what it contributes to covering overhead and profit.

(CFSP) Certified Foodservice Professional Practice Test