MDP Short P & L - Level 2

Explanation
The short P&L is a consolidated report that provides trending and measurable information about the successes and failures of a business. This statement is true because a P&L (Profit and Loss) statement is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time. It helps in analyzing the profitability and financial performance of a business by showing the net profit or loss. Therefore, the short P&L is indeed a useful tool for understanding the successes and failures of a business.

Explanation
The targeted inventory percentage for each store is 18%-22%. This means that the ideal amount of inventory to have on hand in each store should fall within this range. Having too little inventory can lead to stockouts and lost sales, while having too much inventory can tie up capital and lead to increased carrying costs. Therefore, maintaining inventory levels within the 18%-22% range ensures a balance between meeting customer demand and managing costs effectively.

Explanation
Using a declining checkbook can be beneficial for managing total operating expenses effectively. A declining checkbook system involves setting a predetermined budget and deducting expenses from it as they occur. This helps in keeping track of expenses, avoiding overspending, and ensuring that the total operating expenses stay within the allocated budget. Therefore, using a declining checkbook can contribute to the success of managing total operating expenses.

Explanation
The prime costs of a business refer to the direct costs involved in the production of goods or services. In the context of this question, the three things that make up the prime costs are food cost, beverage cost, and labor cost. These costs directly contribute to the creation and delivery of the products or services offered by the business. The other options mentioned, such as occupancy cost and guest cost, may be important expenses for the business but are not considered prime costs as they are not directly involved in the production process.

Explanation
The four revenue centers in beverage revenue are tap beer, bottled beer, liquor, and wine. These categories represent different types of alcoholic beverages that generate revenue for the business. Tap beer refers to beer served directly from a keg or tap system. Bottled beer refers to beer served in bottles. Liquor refers to distilled alcoholic beverages such as vodka, whiskey, or rum. Wine refers to fermented grape juice. These four categories cover a range of alcoholic beverage options that contribute to the overall revenue of the business.

Explanation
Labor trackers are indeed a tool used to successfully manage labor. These tools can help businesses keep track of employee work hours, monitor productivity, and allocate resources effectively. By using labor trackers, organizations can improve efficiency, reduce costs, and ensure that labor is being utilized optimally. Therefore, the statement "Labor trackers is a tool used to successfully manage labor" is true.

Explanation
IROP is actually IBO - occupancy costs

Explanation
The statement suggests that M&R Log is a tool that helps in controlling M&R (Maintenance and Repair) costs. Therefore, the correct answer is true, indicating that M&R Log is indeed used for controlling M&R costs.

Explanation
The targeted food purchasing percentage is 28.5%. This can be inferred from the given options, where 28% and 29% are the closest values to 28.5%. Since 28.5% falls between these two options, it is the most accurate answer.

Explanation
The formula is actually: beginning inventory + purchases - ending inventory / beverage sales

Explanation
Add-ons and upselling refer to the practice of offering additional products or services to customers in addition to their initial purchase. By doing so, businesses can increase their average revenue per customer (PPA). This is because customers are more likely to spend more money when they are presented with additional options or upgrades. Therefore, it can be concluded that add-ons and upselling are indeed effective strategies for increasing PPA.

Explanation
The correct answer is tap waste and production waste. This means that the beer waste report includes information about the waste generated from taps as well as waste generated during the production process.

Explanation
The given statement is true. The formula for calculating food cost is beginning inventory plus purchases minus ending inventory divided by sales. This formula helps determine the cost of the food used or sold during a specific period. By taking into account the beginning and ending inventory, as well as the purchases and sales, the formula provides an accurate calculation of the food cost.

Explanation
Time in Motion is designed to increase productivity by providing a systematic approach to managing and optimizing time. It focuses on identifying and eliminating time-wasting activities, streamlining processes, and improving efficiency. By analyzing how time is being spent and making necessary adjustments, individuals and organizations can make better use of their time, leading to increased productivity and effectiveness.

Explanation
The SPLH calculates the training.

Explanation
The group of sales used to calculate productivity in the BOH is "Total food sales - NA bev". This means that the calculation of productivity only takes into account the sales of food items and excludes non-alcoholic beverages. By subtracting the sales of non-alcoholic beverages from the total food sales, the calculation focuses specifically on the revenue generated from food sales, providing a more accurate measure of productivity in the back of house operations.

Explanation
The brunch tracker should be completed and turned in every Sunday. This suggests that there is a regular schedule or deadline for submitting the brunch tracker.

Explanation
The guest value percentages on the guest value tab of the short P&L are determined by the Quarterly shop scores and the Quarterly guest survey scores. These tools provide insights into the satisfaction and perception of guests, which are important factors in determining the value they bring to the business. The Quarterly shop scores assess the performance of the business in terms of customer experience, while the Quarterly guest survey scores gather feedback directly from guests to gauge their satisfaction. By considering these scores, the business can understand the value guests bring and make informed decisions to improve their experience.

Explanation
The correct answer states that you wouldn't do a paid out for office supplies because you should order them online through the purveyor. This implies that the company has a specific process in place for ordering office supplies and using the paid out option is not the recommended method.

Explanation
The statement suggests that avoiding paid outs is important in order to maintain consistency and minimize costs. This implies that paying out money can lead to inconsistency and higher expenses. Therefore, the correct answer is true.

Explanation
The correct answer is Marketing report and marketing tab. This is because tracking kids promotions is a marketing-related task, and the marketing report and marketing tab are the most suitable places to keep track of such promotions. The food cost tab is not relevant to tracking promotions specifically.

Explanation
The correct answer is "Everyday" because running daily OT reports means generating reports every day, without any specific day of the week designated for this task. This implies that the reports need to be generated consistently on a daily basis, regardless of the specific day of the week.