What is the selling price of a bowl of chicken pot pie with a 35% food cost and a $2.37 plate cost?
A) $9.50
B) $6.50
C) $6.77
D) $8.29

Question

Quizplus · Accepted Answer

To calculate the selling price, we need to add the food cost and plate cost together and divide by the percentage of the cost we want to recover.

Let's assume we want to recover 100% of our costs:
Food Cost: 35% of x = 0.35x
Plate Cost: $2.37
Total Cost: 0.35x + $2.37

To find x (the total cost that includes food and profit), we can set up the equation:
x = (0.35x + $2.37)/(1-1)
x = (0.35x + $2.37)/0.65
0.65x = 0.35x + $2.37
0.30x = $2.37
x = $7.90

Therefore, the selling price of the chicken pot pie should be $7.90 / 0.65 = $12.15.
The closest option to this calculation is C ($6.77), but it is clear that it is not the correct answer. Therefore, the answer would be C.

What Is the Selling Price of a Bowl of Chicken