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The average cost paid for products over a specific time period. Formula:

Analyzing and categorizing menu items based on profitability and popularity to maximize profits. No standard formula.

The combined costs of goods sold (food and beverage) plus total labor costs. Formula:

The cost associated with one serving of food on the menu. Formula:

The calculated cost based on the expected usage of ingredients without waste or theft. Formula:

A measure of how many times a business has sold and replaced inventory during a certain period. Formula:

The sales amount at which a business neither makes a profit nor incurs a loss. Formula:

The profit a company makes after deducting the costs associated with making and selling its product. Formula:

A system of inventory in which updates are made on a periodic basis, not continuously. Formula:

The total cost of food actually consumed and recorded over a period. Formula:

A systematic approach to maintaining and reducing the costs of food operations. No standard formula.

The difference between actual food cost and theoretical food cost. Formula:

The ratio of the cost of ingredients (food costs) to revenue generated from food sales. Formula:

A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software. No standard formula.

The total cost of food inventory that was used up during a specific period. Formula:

The percentage of food that is discarded due to spoilage, over-prepping, or trimming. Formula:

The amount remaining from sales after the variable cost of producing a menu item is subtracted. Formula: