Problem 3 The Prairie Town Grill does not serve alcoholic beverages. Its operating budget reveals th

Problem 3 The Prairie Town Grill does not serve alcoholic beverages. Its operating budget reveals the following: Revenue $1,375,000 Food cost $585,000 Non-food costs $710,000 Profit $80,000 Number of guests 161,580 Guest check average $8.51 $790,000 (revenue – food costs) Contribution margin Using the above information, calculate the base selling price of a menu item with a total ingredient cost of $4.85 using: The contribution margin pricing method. a. b. The ratio pricing method. The simple prime costs method (note: the non-food costs include $426,250 in labor costs). c.

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