Q.1. Define cost. What are the different types of costs that are incurred in hotels? A cost is the value of money that has been used up to produce something or deliver a service and hence is not available for use anymore. In business, the cost may be one of...
Q.1. With the help of a neat diagram, explain the functioning of F&B Cycle. The F&B Cycle is a continuous process that begins with the purchase of raw materials and ends with the sale of finished food and beverage products. The cycle can be broken down into...
Q.1. Define the elements of cost and distinguish between fixed, variable and semivariable cost with examples. The elements of cost are the components of the total cost of a product or service. There are three elements of cost: material cost, labor cost, and overhead...
Q.1. A control system will not cure or prevent problem from occurring, Why? Write the objectives of F&B control. A control system in F&B operations helps to measure and monitor the performance of the business. It involves setting standards, comparing actual...
Q.1. Write in detail the methodology and phases of cost control. Cost control is the process of monitoring and managing expenses to prevent overspending and ensure that the resources are used efficiently. Effective cost control involves a systematic approach that...
Q.1. What do you mean by cost? Discuss the various elements of cost. Differentiate between variable and semi-variable cost. Cost is the amount of expenditure incurred on producing and selling goods or services. In the hospitality industry, cost is an important aspect...