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Weighted Average Item Food Cost

Last modified by
on
Jul 24, 2020, 6:28:07 PM
Created by
on
Jul 25, 2015, 3:24:13 AM
Weighted Average Item Food Cost =Average Total Food CostAverage Number Sold
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ans

The Weighted Average Item Food Cost calculator computes the weighted average of the cost of food items. The weighted average formula is used to calculate the average value of a particular set of numbers with different levels of relevance. The relevance of each number is called its weight. The weights should be represented as a percentage of the total relevancy. 

Resource:

  • Dopson, Lea R., and David K. Hayes. Managerial Accounting for the Hospitality Industry. Hoboken, NJ: Wiley, 2009. Print.
  • "Weighted Average." FinanceFormulas.net. N.p., n.d. Web. 07 Aug. 2015.
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