Term
|
Definition
| A multiplier used to increase or reduce the desired yield of a recipe. |
|
|
Term
|
Definition
| A study that catalogs the anticipated costs of implementing a particular decision versus the benefits from implementing that same decision. Managers and Chefs are typically encouraged to act when the sum of benefits are believed to outweigh the sum of costs. The analysis can be based upon quantitative data (monetary, units of production, etc.), qualitative ("good," "bad") estimated, or a combination of the two. |
|
|
Term
|
Definition
| Functional division of the 24 hour time period. Typical dayparts in the foodservice industry are breakfast, lunch, and dinner. |
|
|
Term
|
Definition
| The component of labor cost attributable to specific menu items. (Ex. Direct labor cost for a raw bar includes the wages of staff members that shuck the shellfish) |
|
|
Term
|
Definition
| The difference between total revenue and cost of sales. In a foodservice operation, gross revenue remains after food cost and beverage cost is subtracted from food sales and beverage sales. |
|
|
Term
|
Definition
| The practice of welcoming guests and providing goodwill and caring service. |
|
|
Term
|
Definition
| The relative fraction or percentage of sales that each menu item contributes to the whole. Typically, menu mix is calculated on the basis of items sold; however, at certain times it will be calculated based upon dollar sales. |
|
|
Term
|
Definition
| Income remaining after all costs and expenses, including taxes and depreciation have been subtracted from total revenue. (AKA Net Profit, earnings, or "bottom line") |
|
|
Term
|
Definition
| The combined cost of food, beverages, and the direct labor required to produce them. |
|
|
Term
| Pro Forma Income Statement |
|
Definition
| An income statement based upon specific assumptions that anticipate the results of operations prior to their occurrence. A pro forma income statement is used as a tool to make management decisions that will improve financial outcomes. |
|
|
Term
|
Definition
| Business income derived from the sale of goods and services to customers. |
|
|
Term
|
Definition
| Recipes that are components within other recipes. |
|
|
