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Revenue Management Final Exam (Chapters 1 – 10): Questions With Solutions (Verified)
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Revenue Management Final Exam (Chapters 1 – 10):Questions With Solutions (Verified)
Which cost would NOT be included in an operation's food costs? Right Ans
- Linen
In what cost category do managers record non-alcoholic beverage expenses?
Right Ans - Food cost
What is the formula used to calculate a foodservice operation's Total Expense
%? Right Ans - Total Expense / Revenue = Total Expense %
Ideal expense in a foodservice operation is management's view of the proper
amount of expense needed to produce a specific amount of sales. Right Ans
- True
What is the formula used to calculate a Food Cost%? Right Ans - Food
Cost / Food Sales = Food Cost %
A foodservice operation's revenue will vary with both the number of guests
visiting the business and the amount of money spent by each guest. Right
Ans - True
What are a foodservice operation's revenues? Right Ans - The sales dollars
it achieves
Sam Hunky is a foodservice manager. Last month his Food Expense equaled
$30,000, his Labor Expense equaled $26,000, and his Other Expenses equaled
$12,000. His Revenue equaled $85,000. What was his total expense
percentage? Right Ans - 80%
A manager's operation currently has an average sale per guest of $9.00. For
the upcoming accounting period, the manager predicts 8,000 guests will be
served at a check average 5% higher than the current average sale per guest.
What will be this manager's revenue forecast for the upcoming period?
Right Ans - $75,600
, Sales to Date is the number managers get when they add today's daily sales to
the sales of all prior days in the same reporting period. Right Ans - True
Changes in selling price, new competitors, facility renovations, and improved
selling programs are examples of factors that managers may need to consider
when estimating future sales levels in their own operations. Right Ans -
True
A manager's operation achieved $800,000 in sales last year. For next year, the
manager predicts a 4% increase in sales. What is the manager's sales forecast
for next year? Right Ans - $832,000
What is the formula managers use to calculate average sales per guest?
Right Ans - Total Sales / Number of Guests Served = Average Sales per Guest
How frequently should managers update their operations' sales history
information? Right Ans - At least once per day
A manager's sales this month were $15,000. Last month's sales were $12,000.
What was this manager's sales percentage increase for this month? Right
Ans - 25%
Calculating sales variance is extremely helpful when comparing the financial
performance of operations with very different volume levels. Right Ans -
True
On Monday a manager served 200 guests at an average sales per guest of
$10.50. On Tuesday the manager served 175 guests at an average sales per
guest of $12.00. What was the managers average sales per guest for the two-
day period? Right Ans - $11.20
One day a manager of a QSR served 500 guests and achieved revenue of
$3,250. What was the manager's check average that day? Right Ans - $6.50
A food or beverage product delivery is said to be "short" when... Right Ans -
fewer items than ordered were delivered
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