What would the minimum suggested selling price be for a salad bar that averaged 100 guests per day, spent a total of $285 on food each day and targeted a 30% food cost?
Question
What would the minimum suggested selling price be for a salad bar that averaged 100 guests per day, spent a total of $285 on food each day and targeted a 30% food cost?
Solution
Sure, I can help with that. Here's how you can calculate the minimum suggested selling price:
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First, you need to determine your total food cost per guest. You do this by dividing your total food cost by the number of guests. In this case, that's 2.85. This means you spend $2.85 on food for each guest.
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Next, you need to calculate your selling price based on your target food cost percentage. You do this by dividing your food cost per guest by your target food cost percentage. In this case, that's 9.50.
So, the minimum suggested selling price for the salad bar would be $9.50 per guest.
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