CRP Inventory Control & Cost Management 2

Question 1

A restaurant's food cost percentage is calculated by dividing cost of food sold by which figure?

Accepted Answer

Total food revenue

Answer

Food cost percentage = (Cost of Food Sold ÷ Food Revenue) × 100.

Question 2

Which inventory method assumes the first items purchased are the first items used?

Accepted Answer

FIFO

Answer

FIFO (First In, First Out) assumes earliest purchased inventory is used first, reducing spoilage risk.

Question 3

A restaurant purchases 50 lbs of salmon at $12/lb and later 30 lbs at $14/lb. Using weighted average cost, what is the cost per pound?

Accepted Answer

$12.75

Answer

Weighted average = (50×$12 + 30×$14) ÷ 80 = $1,020 ÷ 80 = $12.75/lb.

Question 4

What term describes the difference between what inventory should theoretically be used versus what was actually used?

Accepted Answer

Usage variance

Answer

Usage variance (or inventory variance) flags discrepancies caused by waste, theft, or over-portioning.

Question 5

Which document records the internal movement of food items from a main storeroom to a kitchen sub-unit?

Accepted Answer

Requisition form

Answer

A requisition form authorizes and tracks the transfer of product from storage to a production area.

(CRP) Certified Restaurant Professional Practice Test