Weighted Average Item Food Cost

`"Weighted Average Item Food Cost " = "Average Total Food Cost" / "Average Number Sold" `

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The Weighted Average Item Food Cost calculator computes the weighted average of the cost of food items. The weighted average formula is used to calculate the average value of a particular set of numbers with different levels of relevance. The relevance of each number is called its weight. The weights should be represented as a percentage of the total relevancy.

Resource:

Dopson, Lea R., and David K. Hayes. Managerial Accounting for the Hospitality Industry. Hoboken, NJ: Wiley, 2009. Print.
"Weighted Average." FinanceFormulas.net. N.p., n.d. Web. 07 Aug. 2015.