Food and Beverage Cost Control, 4th Edition

by Lea R. Dopson (University of North Texas ); David K. Hayes (Lansing, Michigan); Jack E. Miller (St. Louis Community College)

• ISBN13: 9780471694175
• ISBN10: 0471694177
• Edition: CD
• Format: Hardcover
• Copyright: 2007-03-01
• Publisher: Wiley

Summary

Provides a practical and applied approach to managing costs for foodservice managers and students For foodservice managers to control costs effectively, they must have a firm grasp of accounting, marketing, and legal issues, as well as food and beverage sanitation, production, and service methods. This fully updated fourth edition of Food and Beverage Cost Control provides students and managers with a wealth of comprehensive resources and the specific tools they need to keep costs low and profit margins high. This new edition features the latest information on foodservice cost control in a global setting, addressing relevant cultural, legal, and technological questions. Highlights of this fourth edition include: A new look at international foodservice cost control in the age of globalization, with a special emphasis on using advanced technologies internationally New Leaders are Readers! features provide students with additional readings related to key topics and concepts for each chapter New Technology Tools have been added throughout the book alongside relevant topics because technology affects practically every aspect of cost control today Expanded and updated Test Your Skills questions help students to reinforce their understanding of the tools and concepts presented Apply What You Have Learned exercises focus on practical applications of topics and concepts toreal-world industry scenarios A bonus CD-ROM packed with exercises that utilize manager-developed Microsoft? Excel spreadsheets A newly created Study Guide provides several additional resources to help students review the material and exercises to test their knowledge of key topics and concepts Students in foodservice management courses will find that Food and Beverage Cost Control, Fourth Edition provides a modern and focused treatment of this vital subject. Working managers will appreciate this useful reference as a source of ready-to-use forms and formulas that can be easily applied to their operations. Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Author Biography

Lea R. Dopson, EdD, is chair of the Department of Hospitality Management at the University of North Texas in Denton, Texas.

David K. Hayes, PhD, is the managing owner of the full-service Clarion Hotel and Conference Center in Lansing, Michigan.

Jack E. Miller (deceased) collaborated on several books in hospitality management, including Supervision in the Hospitality Industry and Menu Pricing and Strategy, both published by Wiley.

Table of Contents

Preface

Acknowledgements

Before You Start: How to Use Spreadsheets

Managing Revenue and Expense

Professional Foodservice Manager

Profit: The Reward for Service

Getting Started

Understanding the Profit and Loss Statement

Understanding the Budget

Key Terms and Concepts

Apply What You Have Learned

Test Your Skills

Determining Sales Forecasts

Importance of Forecasting Sales

Sales History

Maintaining Sales Histories

Sales Variances

Predicting Future Sales

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Managing the Cost of Food

Menu Item Forecasting

Standardized Recipes

Inventory Control

Purchasing

Receiving

Storage

Determining Actual Food Expense

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Managing the Cost of Beverages

Serving Alcoholic Beverages

Forecasting Beverage Sales

Standardized Drink Recipes and Portions

Purchasing Beverage Products

Receiving Beverage Products

Storing Beverage Products

Bar Transfers

Computing Cost of Beverages

Special Features of Liquor Inventory

Sales Mix

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Managing the Food and Beverage Production Process

Managing the Food and Beverage Production Process

Product Issuing

Inventory Control

Managing the Food Production Area

Managing the Beverage Production Area

Employee Theft

Determining Actual and Attainable Product Costs

Reducing Overall Product Cost Percentage

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Managing Food and Beverage Pricing

Menu Formats

Factors Affecting Menu Pricing

Assigning Menu Prices

Special Pricing Situations

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Managing the Cost of Labor

Labor Expense in the Hospitality Industry

Evaluating Labor Productivity

Maintaining a Productive Workforce

Measuring Current Labor Productivity

Managing Payroll Costs

Reducing Labor-Related Costs

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Controlling Other Expenses

Managing Other Expenses

Fixed, Variable, and Mixed Other Expenses

Controllable and Noncontrollable Other Expenses

Monitoring Other Expenses

Reducing Other Expenses

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Analyzing Results Using the Income Statement

Introduction to Financial Analysis

Uniform System of Accounts

Income Statement (USAR)

Analysis of Sales/Volume

Analysis of Food Expense

Analysis of Beverage Expense

Analysis of Labor Expense

Analysis of Other Expenses

Analysis of Profits

Technology Tools

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Planning for Profit

Financial Analysis and Profit Planning

Menu Analysis

Cost/Volume/Profit Analysis

The Budget

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