M3

Question 1

predicts the number of guests you will serve and the revenues they will generate in a given future time period.

Answer 1

SALES FORECAST

Question 2

Determine your actual sales for a current time period by using

Answer 2

POS SYSTEM

Question 3

is the systematic recording of all sales achieved during a pre- determined reporting (accounting) period.

can be created to record revenue, guests served, or both.

Answer 3

SALES HISTORY

Question 4

is the cumulative total of sales reported in the unit.

Answer 4

SALES TO DATE

Question 5

defined as the value arrived at by adding the quantities in a series and dividing the sum of the quantities by the number of the items in the series

Answer 5

average/mean

Question 6

is an average in which you determine a specific time period.

Answer 6

fixed average

Question 7

is the average amount of sales or volume over a defined but changing time period.

Answer 7

rolling average

Question 8

is the term used in the hospitality industry
to indicate the number of people you have served.

Answer 8

GUEST COUNT

Question 9

average sales per guest, a term also known
as

Answer 9

check average

Question 10

are changes from previously experienced sales levels

Answer 10

SALES VARIANCES

Question 11

indicates the percentage change in sales from one time period to the next.

Answer 11

PERCENTAGE VARIANCE

Question 12

defined as the percentage of total guests choosing a given menu item from a list of alternatives.

Answer 12

POPULARITY INDEX

Question 13

is the quantity of a specific menu item likely to be sold given an estimate of the total number of guests expected.

Answer 13

predicted number to be sold

Question 14

Factors influencing the
number of guests to be
served include:

Answer 14

1. Competition
2. Weather
3. Special events in the area
4. Holidays
5. Facility occupancy
6. Advertising and promotions
7. Competitor advertising
8. Quality of service
9. Changes in operating hours
10. Operational consistency

Question 15

are those products that are meant
for consumption as a beverage and that contain a significant amount of alcohol. These products are generally classified as BEER & WINE, SPIRITS

Answer 15

Alcoholic beverages

Question 16

AVERAGE SALES PER GUEST FORMULA

Answer 16

TOTAL SALES / NUMBER OF GUEST SERVED

Question 17

SALES VARIANCES FORMULA

Answer 17

SALES THIS YEAR - SALES LAST YEAR

Question 18

PERCENTAGE VARIANCES FORMULA

Answer 18

VARIANCES/SALES LAST YEAR x 100%

Question 19

INCREASE AMOUNT FORMULA

Answer 19

SALES LAST YEAR x (% INCREASE ESTIMATE/100)

Question 20

REVENUE FORECAST FORMULA

Answer 20

SALES LAST YEAR + INCREASE AMOUNT

Question 21

GUEST COUNT FORECAST FORMULA

Answer 21

Guest Count Last Year x (1.00 + % Increase Estimate

• make decimal point increase estimate

Question 22

SALES PER GUEST FORECAST FORMULA

Answer 22

Last Year’s Average Sales per Guest + Estimated Increase in Sales per Guest

Question 23

GUEST FORECAST FORMULA

Answer 23

REVENUE FORECAST / GUEST COUNT FORECAST

Question 24

POPULARITY INDEX FORMULA

Answer 24

TOTAL NUMBER OF SPECIFIC MENU ITEM SOLD / TOTAL NUMBER OF ALL MENU ITEMS SOLD x 100

Question 26

PREDICTED NUMBER OF THAT ITEM TO BE SOLD FORMULA

Answer 26

NUMBER OF GUEST EXPECTED x ITEM POPULARITY INDEX

Question 27

financial plan that indicates how much revenue will be generated and how it should be spent in order to meet required financial goals.

Answer 27

BUDGET

Question 28

a profit plan and a control tool. It will constantly remind a manger about the amount of expected revenue and the allowable levels of expenses.

Answer 28

OPERATIONAL BUDGET

Question 29

is a quantitative report that attempts to predict the outcome of a series of events, with little or no effort made to control the results of those event.

Answer 29

Forecasting

Question 30

is an estimate of future needs, arranged according to an orderly basis, covering some or all of the activities of a food establishment for a definite period of time.

Answer 30

BUDGET

Question 31

is a process of comparing actual results with the corresponding budget data in order to assess goal attainment and to remedy differences by either adjusting the budget (internally) or correcting the causes of the differences

Answer 31

BUDGETARY CONTROL

Question 32

is achieved when costs are covered by sales. At this point, there is neither profit nor deficits because the total cost is equal to the total revenue

Answer 32

The break-even point

Question 33

3 types of costs

Answer 33

Fixed , Variable and Semi-variable

Question 34

Indicates the status of a particular account at any given time. It enables the department head to make sound and timely decisions.

Answer 34

LEDGER

Question 35

Useful for computing revenue data but is also very helpful with expenses.

Answer 35

STATISTICAL RECORD

Question 36

refers to the minimum quantity of stocks that must be maintained in the service station to be able to ensure an efficient flow of service.

Answer 36

PAR STOCK

Question 37

physical count of the items during the last inventory

Answer 37

Ending inventory

Question 38

total number of items lost due to breakages, losses, pilferages,etc.

Answer 38

Breakages/Losses for 1 year

Question 39

allowance for consumption while awaiting the delivery of stocks

Answer 39

LEAD TIME