Food Costs are the costs associated with actually producing the menu items a guest selects. This is not an accounting course, but a workshop to teach how to reduce your cost by proper forecasting of sales, use of standardized recipes, and proper purchasing, receiving, and storing of foods. However, some basic calculations will be demonstrated and should be mastered, as they are essential to know in order to understand the basics of food costing
Structure of the workshop and topics covered:
Identify departments and factors that affect the cost of food being served.
Calculate the popularity index of menu items to determine the amount of food products to buy in anticipation of forecasted sales.
Understand the information to be included in standardized recipes as a base of your food cost calculations.
Purchase, receive, and cost-effectively store food products.
Calculate the waste and yield percentages of foods.
Calculate the cost of food sold and food cost percentage.
Estimate the daily cost of food sold.
Understand the importance of proper food costing concerning menu planning and profitability.
Identify the advantages and disadvantages of the use of convenience foods.
