Questions
11:709:448:01 FOOD PROD MGMT FINAL Exam - F25- Dec 18- Requires Respondus LockDown Browser
Single choice
The two largest expenses in the budget are food/beverage and:
Options
A.payroll taxes.
B.rent.
C.benefits.
D.labor.
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
The question asks which expense, alongside food/beverage, forms the two largest budget categories.
Option 1: 'payroll taxes.' While payroll taxes are a component of labor costs, they are generally smaller than total wages and benefits, especially when food and beverage consume a large share of the budget. So this is......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
The mission and goals of an organization are often the start of the budgeting process. What are some non financial related goals that may impact financial decisions?
A budget could be defined as:
Budgeting Recommended time: 14 minutes Cedric, the Chef, approaches you one day and asks for your help - "we're always running out of pasta for the lamb ragu, sometimes having to substitute the home made pappardelle (a wide flat hand cut noodle) with gnocchi" he says, "what can you do to help me figure out the problem?" You ask to see the budget - and he says "what budget?" so you know this is the place to start. He mentions that he always has enough flour available - they buy large bags, however they often run short of eggs (pasta is made with flour, eggs, salt and water). You ask Cedric for information on amounts of pasta and ingredients and he provides you with the following: The kitchen team make pasta in 1kg batches. 1kg of pasta will give you 8 servings of pasta to accompany the ragu. 1kg of finished pasta requires ingredients of 600 grams of flour and 6 eggs. The chef would like to have 10% of the next week's egg requirements as closing inventory. He purchases eggs by the case - there are 30 eggs in a case at a cost of $11 per case. The business starts with 0 eggs in opening inventory. You now need information on how many lamb ragu servings you would sell and Afrin, the restaurant manger, provides you with the following information from the month of May: Week 1 - 180 serves Week 2 - 150 serves Week 3 - 210 serves Week 4 - 240 serves June Week 1 - 230 serves Prepare a weekly budget for egg orders for The Pasta Project using the table below. Please use whole numbers and no decimal places for all responses. For responses that are related to dollars, please use numbers only, no dollar signs and no cents. For example, $50 should be entered as "50". Week 1 Week 2 Week 3 Week 4 June Wk 1 Servings of pasta 180 150 210 240 230 Kgs of pasta required [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Egg requirements Eggs for production of pasta [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Closing inventory [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Opening inventory 0 [Fill in the blank] [Fill in the blank] [Fill in the blank] Total number of eggs to be purchased [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Number of cases of eggs to be purchased [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Total egg budget ($) [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank]
What do many managers consider the biggest difficulty in budgeting?
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!