QuestionFind the preliminary selling price of a pizza costing \$1.75, aiming for a 30.0% food cost. Options: \$7.10, \$5.83, \$17.10, \$5.25.

Studdy Solution

STEP 1

Assumptions1. The total plate cost of the pizza is \$1.75. The desired food cost percent is30.0\%
3. The selling price is calculated based on the food cost percent

STEP 2

The food cost percent is defined as the ratio of the cost of the food to the selling price. We can express this as a formula $Food\, cost\, percent = \frac{Cost\, of\, food}{elling\, price}$

STEP 3

We want to find the selling price, so we rearrange the formula to solve for the selling price $elling\, price = \frac{Cost\, of\, food}{Food\, cost\, percent}$

STEP 4

Now, plug in the given values for the cost of food and the food cost percent to calculate the selling price.
$elling\, price = \frac{\$1.75}{30.0\%}$

STEP 5

Convert the percentage to a decimal value.
$30.0\% =0.3$ $elling\, price = \frac{\$1.75}{0.3}$

STEP 6

Calculate the selling price.
$elling\, price = \frac{\$1.75}{0.3} = \$5.83$ The preliminary selling price for the grilled pizza with spinach and goat cheese should be \$5.83.

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QuestionFind the preliminary selling price of a pizza costing \$1.75, aiming for a 30.0% food cost. Options: \$7.10, \$5.83, \$17.10, \$5.25.

Studdy Solution

STEP 1

Assumptions1. The total plate cost of the pizza is \$1.75. The desired food cost percent is30.0\%
3. The selling price is calculated based on the food cost percent

STEP 2

The food cost percent is defined as the ratio of the cost of the food to the selling price. We can express this as a formula $Food\, cost\, percent = \frac{Cost\, of\, food}{elling\, price}$

STEP 3

We want to find the selling price, so we rearrange the formula to solve for the selling price $elling\, price = \frac{Cost\, of\, food}{Food\, cost\, percent}$

STEP 4

Now, plug in the given values for the cost of food and the food cost percent to calculate the selling price.
$elling\, price = \frac{\$1.75}{30.0\%}$

STEP 5

Convert the percentage to a decimal value.
$30.0\% =0.3$ $elling\, price = \frac{\$1.75}{0.3}$

STEP 6

Calculate the selling price.
$elling\, price = \frac{\$1.75}{0.3} = \$5.83$ The preliminary selling price for the grilled pizza with spinach and goat cheese should be \$5.83.

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QuestionFind the preliminary selling price of a pizza costing \$1.75, aiming for a 30.0% food cost. Options: \$7.10, \$5.83, \$17.10, \$5.25.

Studdy Solution

STEP 1

Assumptions1. The total plate cost of the pizza is \$1.75. The desired food cost percent is30.0\%3. The selling price is calculated based on the food cost percent

STEP 2

The food cost percent is defined as the ratio of the cost of the food to the selling price. We can express this as a formulaFood cost percent=Cost of foodelling priceFood\, cost\, percent = \frac{Cost\, of\, food}{elling\, price}Foodcostpercent=ellingpriceCostoffood​

STEP 3

We want to find the selling price, so we rearrange the formula to solve for the selling priceelling price=Cost of foodFood cost percentelling\, price = \frac{Cost\, of\, food}{Food\, cost\, percent}ellingprice=FoodcostpercentCostoffood​

STEP 4

Now, plug in the given values for the cost of food and the food cost percent to calculate the selling price.elling price=$1.7530.0%elling\, price = \frac{\$1.75}{30.0\%}ellingprice=30.0%$1.75​

STEP 5

Convert the percentage to a decimal value.30.0%=0.330.0\% =0.330.0%=0.3elling price=$1.750.3elling\, price = \frac{\$1.75}{0.3}ellingprice=0.3$1.75​

STEP 6

Calculate the selling price.elling price=$1.750.3=$5.83elling\, price = \frac{\$1.75}{0.3} = \$5.83ellingprice=0.3$1.75​=$5.83The preliminary selling price for the grilled pizza with spinach and goat cheese should be \$5.83.

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Assumptions1. The total plate cost of the pizza is \$1.75. The desired food cost percent is30.0\%
3. The selling price is calculated based on the food cost percent

The food cost percent is defined as the ratio of the cost of the food to the selling price. We can express this as a formula $Food\, cost\, percent = \frac{Cost\, of\, food}{elling\, price}$

We want to find the selling price, so we rearrange the formula to solve for the selling price $elling\, price = \frac{Cost\, of\, food}{Food\, cost\, percent}$

Now, plug in the given values for the cost of food and the food cost percent to calculate the selling price.
$elling\, price = \frac{\$1.75}{30.0\%}$

Convert the percentage to a decimal value.
$30.0\% =0.3$ $elling\, price = \frac{\$1.75}{0.3}$

Calculate the selling price.
$elling\, price = \frac{\$1.75}{0.3} = \$5.83$ The preliminary selling price for the grilled pizza with spinach and goat cheese should be \$5.83.