Restaurants, caterers and other foodservice businesses use a standard food cost formula to determine their profit margin on food sales. A profitable restaurant normally has a food-cost percentage of anywhere from 28 to 35 percent.Know More
To calculate food costs for a specific month, restaurant owners add the value of the inventory at the beginning of the month to the cost of any purchases made throughout the month. They then subtract the value of the inventory left at the end of the month to determine food costs and divide food costs by gross sales for the month to get a food cost percentage.
Food costs vary based on the type of restaurant. A fast-food or casual dining restaurant normally has a lower food-cost percentage than a fine dining establishment.Learn more about Household Budgets
The average food budget for a single person is about $302 per month, according to LowerYourSpending.com. Based on data from the U.S. Department of Agriculture, LowerYourSpending.com notes that grocery spending within USDA guidelines ranges from about $198 to about $450 depending on the person's age and other factors.Full Answer >
Doctors determine the price of bilateral digital diagnostic mammographies by including the costs of the imaging and interpretation of the scans, according to Healthcare Bluebook. In-office tests may have x-rays, mammography, ultrasounds and bone density readings of the area. Examinations normally range from $246 to $313, as of 2015.Full Answer >
To determine the square footage of a rectangle, multiply the length by the width. The answer is in given square units. For example, if a lawn is 20 feet by 30 feet, the measurement is 600 square feet. This is also referred to as "area."Full Answer >
The F-statistic formula is a ratio that is obtained after performing an analysis of variance test or a regression analysis to determine whether the means of two populations are significantly different. The F statistic is typically used to determine whether the null hypothesis should be rejected or supported.Full Answer >