Question

1/4 the goods are sold at al loss a 20% 60% of the amount is recived in cash 40% in credit​

Answer 1

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Price can be a sensitive issue. If priced too high, a dish may not sell or customers may complain or not return to the

business as they may feel they have not received value for money. Alternately, if a dish is underpriced and does not

make a profit, the business will be damaged financially and will face problems in the future if it does not rectify the

situation. A method to ensure that a profit margin is achieved is to build a target percentage of gross profit into the selling price.

Selling Price

For example, if the food costs for a dish total £3.00 and a gross profit target is set at 70%, the food costs as a percentage of the selling price can only represent 30%. It is important to note that the selling price is the total amount of money that will be received so this has to represent 100% for the purpose of this calculation. In basic terms, food costs + gross profit = selling price.

Learn more about Marked Price here in detail.

Quick summary

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Introduction to Buying and Selling

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Profit Percentage and Loss Percentage.

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Illustration

To calculate the selling price on this basis, the food costs have to be expressed as a percentage of the selling price using the following calculation. Food cost ÷ Food cost as a % of the selling price × 100

For example, if food costs for a dish come to £4.50 and the gross profit target is 75%, the food cost as a percentage of

the targeted sale is 25%.

To calculate the selling price based on this information:

£4.50/25× 100 = £18.00.

By dividing £4.50 by 25, this brings the figure down to 1% of the selling price (£0.18). By then multiplying by 100, it brings the figure up to 100%, the selling price (£18.00). As long as you have the food cost and the target gross profit percentage, this is sufficient information to calculate the selling price.

Answer 2

Answer:

1/4 the goods are sold at al loss a 20% 60% of the amount is recived in cash 40% in credit

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