What unit cost would you plan for

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Problem

The present cost to Lorleny's Restaurant for one a` la carte steak is $3.20. This is 40.0 percent of the menu sales price. What is the present sales price? At an annual inflation rate of 11 percent, what is this steak likely to cost one year from today? Using the cost calculated in (b) above, what should the menu sales price be for this item in one year if the cost percent at that time is to be 38 percent? If you were a banquet manager planning a function six months from now and planning to use this item, what unit cost would you plan for? The banquet manager above has already calculated that the other items included in this banquet menu will have increased in cost in six months from $2.00 to $2.11. What should the sales price per person be for this banquet if the desired cost percentage is 40 percent? Get the instant assignment help. Explain and solve and give formula solve the cost.

Reference no: EM133975042

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