CH 8: Introduction to Cost Control Exam
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1.
Email *
2.
Revenue is defined as income *
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used only for advertising
lost by poor cost-control measures
from sales after expenses are subtracted
from sales before expenses are subtracted
3.
Food and labor can be designated as what cost? *
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Overhead
Secondary
Fixed
Controllable
4.
An invoice is a *
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form of a bill
listing of items ordered for the restaurant
type of profit and loss statement
time sheet
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5.
Managers use forecasting to *
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look at current trends and predict their effect on future budgets.
show a restaurant's actual profit for a period.
only compare past and current expenses.
show actual income only.
6.
Labor costs can include *
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food purchases.
both front- and back-of-the-house staff
all noncontrollable costs.
paper goods use by the restaurant.
7.
Why is forecasting important? *
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It helps predict changes that will impact the business.
It shows invoices for the restaurant.
It can accurately tell management future sales.
It can be used instead of a profit and loss statement.
8.
A profit and loss report does not include what? *
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Approved invoices to determine costs
Accurate labor costs
Individual time sheets
All fixed costs
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9.
A point-of-sale (POS) system does not *
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provide historical data.
help to calculate production lists.
review resumes for new hires.
show past labor costs.
10.
An operating budget *
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is a financial plan for an extensive amount of time.
is a financial plan for a specific period of time.
is the production plan for a specific period of time.
is the plan managers use to order products.
11.
Noncontrollable costs include *
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insurance costs.
management and labor costs.
garnishes used for menu items.
replacing broken plates.
12.
Which cost listed is noncontrollable or fixed? *
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Food and beverage
Hourly wages
Seasonal advertising
Manager salaries
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13.
Which type of forecast used the number of expected guests to determine purchasing
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needs? *
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Customer count
Usage
Inventory
Projectual
14.
Which of the following costs are MOST impacted by business volume? *
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Rent
Labor
Utilities
Insurance
15.
A lease or mortgage payments are considered to be what type of cost? *
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Business
Fixed
Variable
Controllable
16.
A profit and loss report is a compilation of which two items? *
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Labor and revenue costs
Production and labor costs
Sales and revenue
Sales and costs
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17.
An operating budget serves many purposes in the management of a restaurant or
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food service operation, including *
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providing a plan for a non specific period of time.
calculates non-controllable costs, lists managers' goals, and measures actual staff performance.
aids in controlling operational costs, lists operational needs, and calculates actual costs against
anticipated revenue.
identifying all controllable cost needs, such as labor, food and beverages and supplies.
18.
Analyzing an Operating Budget and Profit-and-Loss report allow managers to make
data driven decisions. Explain how these two working documents assist in
managements' decision making. Discuss 2 ways. *
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