Discuss the below:
Determine the variance and % variance for the following:
Month Guests this year Guests last year Variance % Variance
Jan 12,500 11,900
Feb 10,200 9,450
Mar 13,400 12,340
Total: 36,100 33,690
What is the Average Sales per Guest (Check Average) for the following:
Sales period Date Sales Guests Served Check Average
Mon 1-Jan $ 1,255.00 175
Tue 2-Jan $ 2,460.00 280
Wed 3-Jan $ 3,475.00 350
3-Day Average: $ 7,190.00 805
Refer to the sales and expense figures below to Variance = This year - Last Year answer the questions about Joshua's operation % Variance = This year - Last Year / Last Year
Joshua's Ribs 'N Pigs
2011 vs. 2012
2011 % 2012 % Variance
Sales $ %
Food $ 1,891,011.00 82.00% $2,058,376.00 81.00%
Beverage $ 415,099.00 18.00% $ 428,830.00 19.00%
Total Sales $ 2,306,110.00 100.00% $2,541,206.00 100.00%
Cost of Goods Sold
Food $ 712,587.00 37.70% $ 767,443.00 37.30%
Beverage $ 94,550.00 22.80% $ 96,566.00 20.00%
Total Cost of Goods Sold $ 807,137.00 35.00% $ 864,009.00 34.00%
Gross Profit $ 1,498,973.00 65.00% $1,677,197.00 66.00%
TRUE FALSE
1) His food cost was better in 2012 than in 2011
2) His overall food cost is high by industry standards
3) His food sales increased by 9% in 2012
4) His beverage cost for 2011 was 18%
5) Besides Food and Beverage, name 3 other expenses that would go on a P & L statement:
6) If you were Joshua, what would you do?
a Nothing, I made over 1.6 million dollars last year!
b Examine my food costs and standardized recipes
c Fire my accountant because these figures are wrong
c Change my entire menu to lower cost items
Determine his food cost for the following items: FC = PC / SP
ITEM Portion Cost Selling Price Food Cost %
Sticky Ribs $ 3.84 $ 8.99
Cole Slaw Salad $ 1.34 $ 3.99
BBQ Pork Platter $ 2.35 $ 8.99
Whole Hog Special $ 3.59 $ 15.50
Kid's Chicken Plate $ 1.88 $ 5.99
7. What is the most profitable item on his menu?
8. Which item should he remove or change?
9. How many of each menu item can he expect to sell?
PS = GF x PI
ITEM Guest Forecast Pop. Index Predicted # sold
Sticky Ribs 600 33%
Whole Hog Special 600 26%
BBQ Pork Platter 600 41%