Weighted Average Item Food Cost

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.