CALCULATIONS 3. PART I: The recipe below for Beef Tenderloin Tips Complete the e

Question

CALCULATIONS 3. PART I: The recipe below for Beef Tenderloin Tips Complete the extension (all columns) to fo a. Calculatetho yield forty 90%) to answer the following questions. You need to b. Use the conversion factor to make the necesa r c. Use the unit prices to determine converted conversion factor to yield y 9 oz. portions make the necessary changes to the recipe. mine the total recipe anme the converted (40 portions) recipe cost. PART II: Top round normally y costs youosts $28/pod Ate a yield test, you find that a 10 After e. What is the % loss factor for top round steak? f. What is the %productield for top round steak? g. What should you sell the 10 oz. steak for to maintain a 35% food cost? Top round goes up to $3.19/pound. Based on the previous yield test results, what is the new production cost of the 10 oz. steak? h. Based on the above change (h) in cost, what would the new selling price have to be to maintain a 35% food cost? i. PART III: j. November 30 ending inventory was $5000. December 31 inventory is $4500 Purchases for the month of December were $8500. Sales for December were $30,000. What was December food cost percentage? inventory turnover for the month of December using the figures above. k. Calculate

Explanation / Answer

a) Conversion factor to yield forty 9 oz. portions

Now we currently have the yield has eight 10 oz portions which needs to be converted to forty 9 oz portions So the conversion factor is 8*10/40*9 = 0.22

b) The table is missing in the question hence we cannot show this answer

c) We do not have the table which contains the unit prices. Still let us assume it is $ x per portion (10 oz. portion). So the cost of forty portions is $ (x*8)/40 per portion

d) Total portion cost = $ x*8

e) Now 10 oz steak costs us $ 2.25 to produce which translates to 2.25*16/10 = $ 3.6 per pound

and it costs $ 2.89 per pound so % loss factor = (3.6-2.89)/3.6 % = 19.72%

f) % product yield is given as 1-loss factor = 1-.1972 = 80.27%

g) To maintain a 35% food cost we should sell 10 oz steak for 3.6*100/35 = $ 10.28 per pound

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