HNF 444 EXAM 1 STUDY GUIDE
direct purchases- dairy, produce, meat - Answers - immediate use, immediate food cost
storeroom purchases- freezer, groceries, sundries(non food) - Answers - when they
leave the storeroom they are a food cost
food cost combines - Answers - storeroom issues and direct purchases
daily gross food cost - Answers - direct purchase + storeroom issues
gross food cost % today - Answers - day food cost/food sales
gross food cost % to date - Answers - All food cost to date/all food sales to date
consumption= - Answers - total inventory-closing inventory
total inventory - Answers - opening inventory +store room purchases
inventory turnover - Answers - how quickly food in storage is used
calculating inventory turnover - Answers - (Opening Inventory + Closing Inventory)/2 =
Average Inventory
Consumption/Average inventory = Inventory Turnover
greatest cause of inventory loss - Answers - theft
Fair Labor Standards Act: - Answers - minimum wage and overtime pay—restricts
employment of children.
Family and Medical Leave Act (FMLA): - Answers - 12 weeks unpaid and job-protected
leave per year
Labor relations - Answers - interaction between management and a labor union.
wagner act - Answers - protected employee effort to organize and strike, NLRB act
taft-hartly act - Answers - balances power of labor and management, prohibits unions
forcing people in
arbitration - Answers - when a mediator enters
direct purchases- dairy, produce, meat - Answers - immediate use, immediate food cost
storeroom purchases- freezer, groceries, sundries(non food) - Answers - when they
leave the storeroom they are a food cost
food cost combines - Answers - storeroom issues and direct purchases
daily gross food cost - Answers - direct purchase + storeroom issues
gross food cost % today - Answers - day food cost/food sales
gross food cost % to date - Answers - All food cost to date/all food sales to date
consumption= - Answers - total inventory-closing inventory
total inventory - Answers - opening inventory +store room purchases
inventory turnover - Answers - how quickly food in storage is used
calculating inventory turnover - Answers - (Opening Inventory + Closing Inventory)/2 =
Average Inventory
Consumption/Average inventory = Inventory Turnover
greatest cause of inventory loss - Answers - theft
Fair Labor Standards Act: - Answers - minimum wage and overtime pay—restricts
employment of children.
Family and Medical Leave Act (FMLA): - Answers - 12 weeks unpaid and job-protected
leave per year
Labor relations - Answers - interaction between management and a labor union.
wagner act - Answers - protected employee effort to organize and strike, NLRB act
taft-hartly act - Answers - balances power of labor and management, prohibits unions
forcing people in
arbitration - Answers - when a mediator enters
