HTM 2030 Lecture Notes - Lecture 16: Standard Drink, Differential Of A Function

• School: University of Guelph
• Department: Hospitality and Tourism Management
• Course: HTM 2030
• Professor: Alison Crerar

Document Summary

Determine cost of beverages sold compared with either actual or standard cost. Compare the ounces sold with ounces consumed. Compare potential sales value of beverages consumed with actual revenue recorded. Beverage cost % = beverage cost/ beverage sales. Opening inventory + purchases closing inventory = values issued. Bar inventory differential takes into consideration inventory in the bar. Bar inventory differential = bar opening inventory bar closing inventory. Value of beverages issued inventory differential = cost of beverages consumed (beverage cost) Nu(cid:373)(cid:271)er of (cid:271)ottles of ea(cid:272)h ite(cid:373) i(cid:374) sto(cid:272)k is (cid:272)ou(cid:374)ted a(cid:374)d value is deter(cid:373)i(cid:374)ed (cid:271)y the 5 (cid:373)ethods:(cid:863) Actual purchase price, fifo, weighted-average purchase price, latest purchase price, lifo. Split bottle into 10 parts and see how much of bottle is left. Put bottle on scale and see what bottle of beverage it is. Database will know how much bottle should weight. Storeroom issues o(cid:374)es that did(cid:374)"t go through kit(cid:272)he(cid:374) (cid:271)ut (cid:272)a(cid:373)e dire(cid:272)tly fro(cid:373) storeroo(cid:373)