HOS330 Mid Term Exam, Exams of Business Economics

Download HOS330 Mid Term Exam and more Exams Business Economics in PDF only on Docsity! HOS330 Mid Term Exam.[Latest Update, Graded A+] Multiple Choice Chapter 1 Choose the letter of the best answer to the questions listed below. 1. When significant variations from planned results occur foodservice managers must a. determine the cause, identify the problem, and take corrective action. b. take corrective action, determine the cause, and identify the problem. c. identify the problem, take corrective action, and determine the cause. d. identify the problem, determine the cause, and take corrective action. 2. An operation’s expenses are the a. number of guests it serves. b. sales dollars generated by the business. c. dollars that remain after all costs have been paid. d. costs of the items required to operate the business. 3. Complete the formula: Revenue - Desired Profit = a. Food Cost b. Cost of Sales c. Ideal Expense d. Other Expense 4. Which is NOT considered a major foodservice expense category managers must learn to control? a. Taxes b. Labor costs c. Beverage costs d. Other expenses 5. Which cost would NOT be included in an operation’s food costs? a. Linen b. Coffee c. Produce d. Paper wrappers for to-go foods HOS330 Mid Term Exam.[Latest Update, Graded A+] Questions 6, 7, 8, 9 and 10 utilize the following information: A simplified income statement for The Tampopo Noodle House is shown below: $ % Revenues $800,000 100% Food & Beverage Cost $300,000 37.5 Labor Cost 350,000 43.75 Other Expenses 50,000 6.25 Total Expense 700,000 Profit 100,000 6. What were the total expenses of The Tampopo Noodle House? a. $600,000 b. $650,000 c. $700,000 d. $750,000 7. What was the profit amount achieved by The Tampopo Noodle House? a) $50,000 b) $75,000 c) $100,000 d) $125,000 8. What was the profit percentage achieved by The Tampopo Noodle House? a) 6.25% b) 12.50% c) 37.50% d) 50.25% HOS330 Mid Term Exam.[Latest Update, Graded A+] 15. One day a manager of a QSR served 500 guests and achieved revenue of $3,250. What was the manager’s check average that day? HOS330 Mid Term Exam.[Latest Update, Graded A+] a. $1.50 b. $1.54 c. $6.50 d. $6.54 16. A weighted average sale per guest weighs the number of guests served in different time periods with a. the amount of profit made in the same time periods. b. how much the guests spend in the same time periods. c. the total amount of expense incurred in the same time periods. d. how many hours the operation is open in the same time periods. 17. A manager’s sales this month were $15,000. Last month’s sales were $12,000. What was this manager’s sales percentage increase for this month? a. 10% b. 15% c. 20% d. 25% 18. A manager’s operation achieved $800,000 in sales last year. For next year, the manager predicts a 4% increase in sales. What is the manager’s sales forecast for next year? a. $804,000 b. $832,000 c. $864,000 d. $882,000 HOS330 Mid Term Exam.[Latest Update, Graded A+] Questions 19, 20, and 21 utilize the following information: HOS330 Mid Term Exam.[Latest Update, Graded A+] 22. The Popularity Index of a menu item is equal to the a. Total number of a specific menu item sold (÷) Total number of all menu items sold. b. Total number of all menu items sold (÷) Total number of a specific menu item sold. c. Total number of a specific menu item sold (x) Total number of all menu items sold. d. Total number of all menu items sold (x) Total number of a specific menu item sold. Questions 23 and 24 utilize the following information: Menu Item Number Sold Popularity Index Forecast # Guests Forecast Item Sold Steamed Fish 175 35 245 Seafood Hot Pot 125 25 175 Vegetable Lo Mein 200 40 280 Total 500 100 700 23. What is the popularity index for Vegetable Lo Mein? a. 0.30 b. 0.35 c. 0.40 d. 0.45 24. Based on its popularity index, what would be the predicted number of Seafood Hot Pots to be sold if management forecasts that 700 guests will be served? a. 150 b. 175 c. 200 d. 225 25. Which alcoholic beverage product is made from grain and is flavored with hops? HOS330 Mid Term Exam.[Latest Update, Graded A+] a. Beer b. Wine c. Liquor HOS330 Mid Term Exam.[Latest Update, Graded A+] d. Spirit 26. Which piece of information is NOT normally included on a standardized recipe? a. Portion size b. Ingredient list c. Item selling price d. Preparation method 27. What is the most accurate way to determine the amount of ingredients to be used in standardized recipes? a. Sorting b. Counting c. Portioning d. Weighing 28. A manager’s standardized recipe makes 200 portions. The manager needs to make 120 portions. What is the recipe conversion factor the manager should use to adjust this recipe? a. .6 b. 1.7 c. 6.0 d. 16.7 29. A manager’s standardized recipe makes 400 ounces of product and yields 100 portions. 15% of this recipe’s weight is sugar. How much sugar will be required if the manager wants to make 200 portions of this item? a. 7.5 ounces b. 75 ounces c. 7.5 pounds d. 75 pounds 30. What is the highest USDA grade for beef? HOS330 Mid Term Exam.[Latest Update, Graded A+] a. 4 b. 6 c. 8 HOS330 Mid Term Exam.[Latest Update, Graded A+] d. 10 36. Potentially hazardous foods are those which must be carefully handled for time and a. cost. b. weight. c. quantity. d. temperature. 37. What is the formula managers use to determine the inventory value of items held in storage? a. Par value (÷) Item Value = Item Inventory Value b. Par value (×) Item Value = Item Inventory Value c. Item Amount (÷) Item Value = Item Inventory Value d. Item Amount (×) Item Value = Item Inventory Value 38. A manager has 1.5 cases of canned green beans in storage. Each case cost $18.50. What is the total inventory value of this manager’s canned green beans? a. $12.33 b. $18.50 c. $27.75 d. $42.33 39. In which inventory system would a manager utilize bin cards? a. ABC inventory b. Static inventory c. Physical inventory d. Perpetual inventory 40. When utilizing the ABC inventory system, what is true about items in category C? a. The number of items is small, and the total value of the items is small b. The number of items is small, and the total value of the items is large c. The number of items is large, and the total value of the items is small d. The number of items is large, and the total value of the items is large 41. What is the formula managers use to determine the amounts of products they should order? HOS330 Mid Term Exam.[Latest Update, Graded A+] a. Par Value (-) On Hand (+) Special Order = Order Amount b. Par Value (+) On Hand (+) Special Order = Order Amount