27 January 2009
For perishable nature of goods, we generally use FIFO method. Rest depends item to item nature. Generally there can be three types of cost in case of food. Purchase of raw materials + Handling and preservation costs + processing costs. On the basis of these costs you can charge a margin based on Industry norms. It also depends on the location of the restaurent and the conditions of weather also part a major role in pricing decisions.
27 January 2009
Dear Sonali, I am not aware of any specific book on Hotel Industry, but I hope you may get the details over pricing systems for Food and Hotel industry in any good international level costing book.
CAclubindia
