Deck 9: Monitoring Foodservice Operations II: Daily Food Cost

Question 1

Daily food cost is determined by adding the daily cost of direct purchases to the daily cost of inventory issues, then taking in account adjustments, if any.

Answer 1

True

Question 2

The daily cost of inventory issues is taken from the stores column on the Receiving Clerk's Daily Report.

Answer 2

False

Question 3

Transfers from kitchen to bar would increase daily food cost.

Answer 3

False

Question 4

Transfers from bar to kitchen would increase daily food cost.

Question 5

A book inventory is based on an end-of-month count of goods.

Question 6

Opening inventory for September is equal to closing inventory for October.

Question 7

The daily cost of direct purchases is taken from the directs column on the Receiving Clerk's Daily Report.

Question 8

Errors in extending requisitions will lead to differences between actual and book inventory.

Question 9

Daily food cost percents are accurate, but not timely.

Question 10

At the end of a given accounting period, book inventory value and actual inventory value are normally identical.

Question 11

The two basic components of a daily food cost are:

A) direct purchases and stores issues
B) stores purchases and direct issues
C) all food purchases and all food issues.

Question 12

Direct purchases are added to food cost when they are:

A) sold
B) inventoried
C) received.

Question 13

To determine the daily cost of stores issued, a food controller would total the values recorded on the day's:

A) sales checks
B) requisitions
C) Receiving Clerk's Daily Report.

Question 14

Transfers from kitchen to bar have what effect on daily food cost?

A) increase
B) decrease
C) no effect.

Question 15

Given the following information, determine daily food cost: directs $100; stores issued $600; transfers from bar to kitchen $10.

A) $510
B) $610
C) $590

Question 16

Given the following information, determine daily food cost: directs $120; stores issued $300; transfers from kitchen to bar $20; transfers from bar to kitchen $10.

A) $410
B) $440
C) $210

Question 17

The opening value of the book inventory today was $900. The Receiving Clerk's Daily Report shows direct purchases of $100 and stores purchases of $500. Issues for the day total $600. Given this information, calculate closing book inventory.

A) $800
B) $900
C) $2100

Question 18

Given the information appearing below, determine food cost percent to date on 9/3.
Food Cost Food Sales
Date today today
9/1 $100 $400
9/2 125 375
9/3 75 225

A) 25.0%
B) 30.0%
C) 33.3%

Question 19

Given the following information, determine the book value of the closing inventory:
Issues: $300
Opening inventory: $800
Purchases: $200

A) $700
B) $900
C) $1300

Question 20

Given the following information, determine the difference between book and actual inventory as a percentage of issues:
Issues: $500
Actual inventory: $250
Opening inventory: $200
Purchases: $600

A) 10.0%
B) 30.0%
C) 190.0%