If a Customer Is Willing to Pay $20

question 50

Short Answer

If a customer is willing to pay $20.00 per person for food (not including service charges and taxes)and management requires a food cost of 27%,what is an acceptable cost of the raw ingredients for that meal?

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Definitions:

Multidimensional

Referring to phenomena, concepts, or objects that have several different aspects, components, or layers, making them complex and varied in their characteristics.

Cognitive Process

Mental activities involved in acquiring, processing, and storing knowledge, such as perception, reasoning, and memory.

Biological Process

A process that is vital for the living organism and occurs due to complex interactions among biological systems.

Homeostasis

the process by which living organisms regulate their internal environment to maintain a stable, constant condition, despite changes in the external environment.