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  2. Menu cost - Wikipedia

    en.wikipedia.org/wiki/Menu_cost

    Menu costs are the costs incurred by the business when it changes the prices it offers customers. A typical example is a restaurant that has to reprint the new menu when it needs to change the prices of its in-store goods. So, menu costs are one factor that can contribute to nominal rigidity. Firms are faced with the decision to alter prices ...

  3. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...

  4. Restaurant management - Wikipedia

    en.wikipedia.org/wiki/Restaurant_management

    Associate, bachelor, and graduate degree programs are offered in restaurant management by community colleges, junior colleges, and some universities in the United States. [ 1 ] One hierarchical system for organizing a restaurant's kitchen staff is the brigade de cuisine system developed by Auguste Escoffier (1846–1935).

  5. Inflation: Cost of eating out continues to rise, a potential ...

    www.aol.com/finance/inflation-cost-eating...

    The cost of dining out in January was up 5.1% year over year and up 0.5% compared to the previous month, according to the latest inflation data from the Bureau of Labor Statistics. On the other ...

  6. What Is Cost-Benefit Analysis? - AOL

    www.aol.com/.../19/cost-benefit-analysis-definition

    Today's term: cost-benefit analysis. Most of us are familiar with the term, and have a basic grasp of it. It refers to how a project or decision might be evaluated, comparing its costs with its ...

  7. Cost breakdown analysis - Wikipedia

    en.wikipedia.org/wiki/Cost_breakdown_analysis

    The cost breakdown analysis is even more effective when repeated constantly, so that changes in the respective shares in total costs of the various cost drivers can be tracked down. Over a five-year period, the share of expenses for tires might have risen from 5% to 8%, accompanied by a decrease of expenses for personnel from 35% to 32%, which ...

  8. Labor cost is the elephant in the room for restaurant chains ...

    www.aol.com/finance/labor-cost-elephant-room...

    He added: "That said, we will likely need to raise menu prices slightly, just like the rest of industry, in 2024 to offset a variety of inflation-driven cost increases, including labor-related costs."

  9. Cost - Wikipedia

    en.wikipedia.org/wiki/Cost

    Social costs are the sum of private costs and external costs. [ 7 ] For example, the manufacturing cost of a car (i.e., the costs of buying inputs, land tax rates for the car plant, overhead costs of running the plant and labor costs) reflects the private cost for the manufacturer (in some ways, normal profit can also be seen as a cost of ...