HRM 220 Cost Control-Food & Beverage

Lecture: 3 Lab: 0 Clinic: 0 Credits: 3

This course introduces controls and accounting procedures as applied to costs in the hospitality industry. Topics include reports, cost control, planning and forecasting, control systems, financial statements, operational efficiencies, labor controls and scheduling. Upon completion, students should be able to demonstrate an understanding of food, beverage, and labor cost control systems for operational troubleshooting and problem solving.

Pre-requisite(s): MAT 003 (P2 grade).
Course is typically offered in Fall.
Student Learning Outcomes (SLOs)
At the completion of the course, the students should be able to do the following:

Define “control” and recognize its importance in the management system.
Explain the purposes and applications of standard costs and the uses of standard cost tools.
Describe the role of budget standards in planning and control and apply cost-volume-profit analysis to food and beverage operations.
Identify and explain methods for estimating allowable food and beverage costs based on forecasted sales levels.
Contrast subjective and objective menu-pricing methods and incorporate profit requirement in menu prices.
Determine forecast production needs based on sales history records and time series analysis.