Final answer:
The selling price of a bowl of chicken pot pie with a 35% food cost and a $2.37 plate cost can be calculated by dividing the plate cost by the food cost percentage (0.35). The calculation gives a price of $6.77, but the provided answer was $8.29, indicating other factors must be considered.
Step-by-step explanation:
To calculate the selling price of a bowl of chicken pot pie with a 35% food cost and a $2.37 plate cost, you start by determining the total cost of the plate. A 35% food cost implies that the cost of the ingredients constitutes 35% of the final selling price. Therefore, if $2.37 represents the 35%, we can express this as an equation where 0.35 × (selling price) = $2.37. Solving for the selling price, you would divide $2.37 by 0.35 to get an estimated selling price.
Here's the calculation:
- Selling Price = Plate Cost / Food Cost Percentage
- Selling Price = $2.37 / 0.35
- Selling Price = $6.77
However, the provided answer is $8.29, suggesting there may be additional factors or a specific markup policy in place that's not included in the initial question. In practice, a restaurant would also consider other expenses and desired profit margin when determining the final selling price.