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EQUATIONS FOR RD EXAM Questions & Detailed Answers 2024
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EQUATIONS FOR RD EXAM Questions & Detailed Answers 2024
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EQUATIONS FOR RD EXAM WITH COMPLETESOLUTIONS 100%
meals per labor hour - correct answer# meals produced / # hours worked
profit margin - correct answernet profit (profit after all expenses paid)/sales dollars (revenue)
Cost of sales - correct answercost of the raw food + beverage sold
gross profit - correct answersales-cost of sales (cost of food and beverages)
net profit - correct answerGross Profit - Expenses
breakeven point in # of units sold - correct answerFixed cost/ selling price-variable cost
Tells you how many meals you need to sell to break even
breakeven point in sales volume - correct answerfixed costs/ 1 -(variable cost/sales)
Factor-cost/mark-up/traditional mark-up pricing - correct answer1. Determine mark-up factor
100/food cost percentage
2. determine selling price
mark-up factor X raw food cost
-can add 10% to raw food cost to account for hidden cost
prime cost method - correct answer1. determine prime cost
raw food cost + labor cost
2.determine mark-up factor
100/food cost percentage+labor cost percentage
, 3. prime cost X mark-up factor
cost of profit pricing/cost plus pricing - correct answer1. add up all costs as percentages
2. Find desired food cost percentage
100-x= % or .X
3. food cost/desired food cost percentage (X)
***used when you want to price the product to ensure a predetermined percentage of profit
-profit is established as a cost
yeild - correct answerEP/AP
Payback Period - correct answer1. add up costs of service
2. add up costs saved by new service
3. costs of service/dollars saved or profit
FTE - correct answerhours worked/normal workload
Labor turnover rate - correct answernumber of new employees / employees at the end of the period
EP cost - correct answerAP price(raw purchase cost)/cooked edible waste
OR
1.find the EP by dividing the total pounds by the percent yield
2.divide the EP by the cost
Inventory Turnover Ratio - correct answercost of goods sold/average inventory
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