Determine the Menu Price for the Following

question 49

Short Answer

Determine the menu price for the following. Round to the nearest cent. The raw food cost is $2.26, and a 22% food cost is desired. $_______________

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Definitions:

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.

Fair Market Value

The estimated price at which an asset would sell in the marketplace when both buyer and seller are reasonably knowledgeable and willing parties.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis. Accountants can also advise on financial strategies and tax planning.

Gross Income

The total income earned by an individual or a business before any deductions or taxes are taken out.