Sure, let's go through the problem step-by-step.
First, let's define the values given in the problem:
- Food cost per portion = [tex]$7.22
- Standard food cost percentage = 28%
- GST (Goods and Services Tax) = 15%
### a) Calculate the profitable selling price of the dish.
We can find the profitable selling price by dividing the food cost per portion by the standard food cost percentage (expressed as a decimal).
#### Formula:
\[ \text{Profitable Selling Price} = \frac{\text{Food Cost per Portion}}{\text{Standard Food Cost Percentage}} \]
First, convert the standard food cost percentage to decimal:
\[ \text{Standard Food Cost Percentage} = \frac{28}{100} = 0.28 \]
Now plug in the values:
\[ \text{Profitable Selling Price} = \frac{7.22}{0.28} = 25.7857 \]
Rounding to two decimal places:
\[ \text{Profitable Selling Price} = 25.79 \]
### b) Calculate the GST.
To find the GST amount, multiply the profitable selling price by the GST rate (expressed as a decimal).
#### Formula:
\[ \text{GST} = \text{Profitable Selling Price} \times \text{GST Percentage} \]
Convert the GST percentage to decimal:
\[ \text{GST Percentage} = \frac{15}{100} = 0.15 \]
Now plug in the values:
\[ \text{GST} = 25.79 \times 0.15 = 3.8685 \]
Rounding to two decimal places:
\[ \text{GST} = 3.87 \]
### c) What is the GST-inclusive selling price of the dish?
The GST-inclusive selling price is the total price after adding the GST to the profitable selling price.
#### Formula:
\[ \text{GST-inclusive Selling Price} = \text{Profitable Selling Price} + \text{GST} \]
Now plug in the values:
\[ \text{GST-inclusive Selling Price} = 25.79 + 3.87 = 29.66 \]
### Summary of results:
- Profitable Selling Price: $[/tex]25.79
- GST: [tex]$3.87
- GST-inclusive Selling Price: $[/tex]29.66
