Test On Monitoring Sales: Quiz!
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Do you know what it means to monitor sales? Every sales activity is measurable, and the big secret of sales is to know what to track. Monitoring sales analytics in the sales matrix involves improved performance, optimization of sales activities, and more accountability. Sales teams have a wide array of activities to focus on and operate in a competitive environment. This fascinating quiz will give you a better understanding of monitoring sales. Go for it.
Questions and Answers
- 1.
With a _____________ banking system, the server; Ermintrude, and the bartender; Heinz can use their own banks of money to collect payments from guests and retain the collected revenue until they check out at the end of their shifts.
- A.
Collusion.
- B.
Server Banking.
- C.
Duplicate Revenue.
- D.
Cashier Banking.
Correct Answer
B. Server Banking.Explanation
Server Banking is the correct answer because it refers to a system where the server, Ermintrude, and the bartender, Heinz, have their own banks of money to collect payments from guests. They can retain the collected revenue until the guests check out at the end of their shifts. This system allows for individual accountability and tracking of transactions, ensuring that each server is responsible for their own payments and revenue.Rate this question:
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- 2.
ED’s, (Edvard & Branimir’s) Restaurant uses the server banking system. Given the following information, what is the cash due from the server (Lukas) before paying out charged tips? Opening Cash Bank $50.00 Total Sales from Guest Checks $450.00 Mastercard Charges $95.00 Visa Charges $150.00 ED’s Gift Certificate $40.00 Complimentary Dinner $75.00
- A.
$90
- B.
$140
- C.
$205
- D.
$255
Correct Answer
B. $140Explanation
The cash due from the server (Lukas) before paying out charged tips can be calculated by subtracting the Mastercard charges, Visa charges, ED's Gift Certificate, and Complimentary Dinner from the Total Sales from Guest Checks. Therefore, the cash due from the server is $450 - $95 - $150 - $40 - $75 = $140.Rate this question:
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- 3.
Dave’s Restaurant turns its tables 12 times a day. He runs an average Food Cost of 36.5%, and, being a thrifty individual, has managed to keep his labor cost down to 24% of sales. He has an average check of $6.25 per person and has found, that when trying to increase his prices that his guests are quite priced sensitive. By looking at these numbers one can determine that:
- A.
Dave runs a Fast Food/Casual Service Establishment.
- B.
A Family/ Casual Establishment.
- C.
A Fine Dining Establishment.
- D.
Has a higher than average level of staff turnover.
- E.
A&D.
Correct Answer
E. A&D.Explanation
Based on the information provided, Dave's Restaurant can be determined to be a Fast Food/Casual Service Establishment. This can be inferred from the fact that the restaurant turns its tables 12 times a day, indicating a fast-paced dining environment commonly found in fast food or casual service establishments. Additionally, the mention of a thrifty individual managing to keep labor costs down suggests a more casual dining setting rather than a fine dining establishment. The answer A&D is correct because it combines both options A and D, indicating that Dave's Restaurant is a Fast Food/Casual Service Establishment with a higher than average level of staff turnover.Rate this question:
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- 4.
A requisition slip in a non-automated F&B operation is used by a server to:
- A.
Request Food from the storage area.
- B.
Notify the production staff of items needed to fill an order.
- C.
Request Time off.
- D.
Request special seating for guests with special needs.
Correct Answer
B. Notify the production staff of items needed to fill an order.Explanation
In a non-automated F&B operation, a requisition slip is used by a server to notify the production staff of items needed to fill an order. This slip serves as a communication tool between the server and the production staff, ensuring that the necessary ingredients or items are prepared and made available for the order. It helps streamline the workflow and ensures that the production staff is aware of the specific items required, minimizing errors and delays in the order fulfillment process.Rate this question:
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- 5.
F&B managers can identify differences between what food items were produced and what items were served during a specific meal period by matching requisition slips turned into the kitchen with:
- A.
Sales forecasts
- B.
Cashier Totals
- C.
Corresponding guest checks
- D.
Storeroom Issue reports
Correct Answer
C. Corresponding guest checksExplanation
F&B managers can identify differences between what food items were produced and what items were served during a specific meal period by matching requisition slips turned into the kitchen with corresponding guest checks. This is because the guest checks contain a detailed record of the items ordered by the guests. By comparing the requisition slips with the guest checks, the managers can ensure that all the items produced in the kitchen were actually served to the guests. This helps in maintaining accuracy in inventory management and avoiding discrepancies in food production and service.Rate this question:
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- 6.
When analyzing variances a difference of ($2,500) represents a:
- A.
Positive Variance (We are under budget).
- B.
Negative Variance (We are over budget)
- C.
An unrecorded liability awaiting payment.
- D.
A potential source of concern that requires immediate attention.
Correct Answer
B. Negative Variance (We are over budget)Explanation
A negative variance of ($2,500) indicates that the actual expenses exceeded the budgeted amount. This means that the organization spent more than it had planned, resulting in a deficit. It suggests that there was a deviation from the expected financial performance, which can be a cause for concern as it indicates potential financial difficulties. Immediate attention may be required to address the overspending and find ways to mitigate the negative variance in future budgets.Rate this question:
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- 7.
Expected operating results or standards, taken from the budget or other sources must be compared with ACTUAL results in order to:
- A.
Accurately forecast future sales growth.
- B.
Determine payroll and other expenses for the period.
- C.
Provide revenue information required to determine taxes owed to government.
- D.
Show how successful an operation has been in meeting its goals.
Correct Answer
D. Show how successful an operation has been in meeting its goals.Explanation
By comparing expected operating results or standards with actual results, an organization can assess how successful it has been in meeting its goals. This comparison allows for an evaluation of whether the organization has achieved its desired outcomes or if there are areas that need improvement. It provides insights into the effectiveness of the organization's strategies and helps in identifying any deviations from the planned targets. This information is crucial for making informed decisions, setting future goals, and taking corrective actions if necessary.Rate this question:
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- 8.
The most accurate standards for evaluating results from operations are:
- A.
Industry averages
- B.
Past Financial statements
- C.
Operating Budgets (Past/Current)
- D.
In-House Standard Costs
Correct Answer
D. In-House Standard CostsExplanation
In-House Standard Costs are the most accurate standards for evaluating results from operations because they are specifically tailored to the organization's unique operations and processes. These costs are based on the organization's own experience and expertise, taking into account factors such as labor, materials, and overhead costs. By comparing actual results to these standard costs, the organization can identify any variations or inefficiencies in its operations and take appropriate actions to improve performance. Industry averages, past financial statements, and operating budgets may provide some insights, but they may not accurately reflect the organization's specific circumstances and therefore may not be as reliable for evaluation purposes.Rate this question:
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- 9.
When determining whether variances between budgeted variances and actual variances require attention factors include:
- A.
Are variances understandable?
- B.
Have the components of food cost changed?
- C.
Is the amount of variance great enough to warrant action?
- D.
Are the actual costs correct?
- E.
All of the above.
- F.
A, C, &D.
Correct Answer
E. All of the above.Explanation
The correct answer is "All of the above" because when determining whether variances between budgeted variances and actual variances require attention, all the factors mentioned in the options need to be considered. Variances need to be understandable, meaning they should be able to be explained and analyzed. The components of food cost changing can also impact the variances and may require attention. The amount of variance should be significant enough to warrant action, as small variances may not be worth addressing. Lastly, it is important to ensure that the actual costs are correct in order to accurately assess the variances.Rate this question:
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- 10.
Ramone has determined that an acceptable level of variance is $1150 before attention is required to his quarterly food sales. Please determine which quarter requires attention: A. Quarter #1 $275,000 .04 B. Quarter #2 $290,000 .04 C. Quarter #3 $395,000 .03 D. Quarter #4 $312,000 .035
- A.
Quarter 1
- B.
Quarter 2
- C.
Quarter 3
- D.
Quarter 4
Correct Answer
C. Quarter 3Explanation
both quarter #2 and quarter #3 have a variance over $1150. Quarter 3 is the more correct answer since it has a variance of $1185 which is higher than the variance of $1160 from quarter #2.Rate this question:
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Current Version
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Apr 21, 2023Quiz Edited by
ProProfs Editorial Team -
Dec 09, 2012Quiz Created by
Hmgt
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