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question 1explain the various stages of the

Question 1:

Explain the various stages of the product cycle and explain why it is necessary to follow the procedures regarding this cycle.

Question 2:

(i) Explain the formula S = FC + VC + SFC + P. Support your answer with relevant examples.

(ii) How will you use this formula to ensure that your food & beverage operations are on the right track?

Question 3:

‘In beverage costing, one of the basic principles of pricing is: the higher the initial cost, the lower the mark up'. With supportive arguments and examples, explain how and why you may be in agreement or disagreement with this statement.

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