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Costs |

Costs

| March 24, 2016

Deliverable Length: 200 – 250 words
Course Objectives:
To have a working knowledge of the components included in the purchasing process
To have a basic understanding of the expenses involved in total food and labor cost
Ability to cost standardized recipes accurately and determine menu pricing
Assignment:
It is important for any operation, especially restaurant and foodservice operations, to continuously monitor and control its costs of operations. These costs include production and service costs such as food cost, labor costs, utilities, and marketing. Fierce competition in the restaurant and foodservice industry makes it very difficult to pass increased costs along to the customer.
While cost is not the only consideration in profitability, the awareness and focus on costs, together with sound pricing and other operational strategies, helps managers make the connection between costs and profitability. While cost is not the only consideration in profitability, the awareness and focus on costs, together with sound pricing and other operational strategies, helps managers make the connection between costs and profitability.
· Identify the types of costs when running a restaurant
· Give three examples of each category
· Describe the differences between each categorized cost and how it plays a role in the overall cost of the operation

Category: Economics

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