Objective: Determine the selling price of a Holiday Cookie Box

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Presentation transcript:

Objective: Determine the selling price of a Holiday Cookie Box SHOW ME THE MONEY! Objective: Determine the selling price of a Holiday Cookie Box

Solve the following : 1. Find the cost of 10 boxes if $12.89/40 boxes. 2. Find the total cost of one egg if the cost is $22.87/15 doz. 3. Find the cost of 2 cups of flour if a 50 pound bag of flour costs $14.77.

Answers 1. $3.23 for 10 boxes 2. $ .13 per egg 3. $ .18 for two cups flour

Food Cost Percentage Percentage of the the selling price of food that represents the cost of the food and supplies used. Supplies may include things such as cupcake liners, “frilly picks” on sandwiches, etc.

Restaurants set a food cost percentage goal and use this as a way to evaluate their operation. Any thing over their goal FCP represents loss or waste. Anything under their FCP represents extra profit!

Food Cost % x Sales Menu Price (divided by) Food Cost % x Sales Menu Price

Math Concepts Food Cost (divided by) . Food Cost % x Sales Menu Price Relates to math formulas: Formula Number Examples FC ÷ FCP = SMP 12/4 = 3 FC ÷ SMP = FCP 12/3 = 4 FCP x SMP = FC 3 x 4 =12

Food Costing $0.80/dozen for Chocolate Chip Cookies $0.53/dozen for Oatmeal Cookies $0.42/dozen for Snickerdoodles

Let’s Try it Out! Calculate the total cost for a dozen of each type. Figure the sales menu price for the amount in problem 1 with a food cost percentage of 50%. Figure the new sales menu price if the food cost percentage changes to 82 1/3%.

Food Cost Percentage and Menu Pricing Consider the percentage relationship: Food Cost Percentage = cost of food sales menu price How would you describe this relationship in your own words?

Traditional Math Examples Use percent and ratio concepts to solve the following problems. A large repair on the kitchen cooler costs a total of $635. If $409 was labor cost and the rest was for parts, what is the percent of the labor cost? In the above problem, if it took 8 hours for the repair person to fix the cooler, what is their hourly rate?

More? In problem 1, find the percentage of the total that was spent on parts. One part needed accounted for 22% of the total cost of the parts. What was the cost of the part? A dinner menu item is priced at $16.99. The food cost percentage for this item is 43%. If the main ingredient of the item accounts for 87% of total food costs, find the cost of main ingredient.

Holiday Cookie Boxes A box of cookies will contain one dozen of each type of cookies, one box, two sheets of tissue paper and 5 ft. of ribbon. Calculate the total sales price with a food cost percentage of 50% and 34% for one box of cookies Grizzly Catering will be offering for sale to staff. SHOW YOUR WORK!

Ask yourself--- Is your sales price reasonable? Do you think people will order boxes of cookies at this price? How would you adjust the price and how would that affect your profits?