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Profit and loss Curriculum links This PPT, and the accompanying PDF workbook, covers many aspects of Level 1 and Level 2 Functional Mathematics and adult numeracy. Please refer to the download page for this resource on skillsworkshop.org for detailed curriculum links and related resources. March Kindly contributed by Susan Brocklehurst, City College, Norwich. Search for Susan on This PPT accompanies a separate PDF workbook. Both resources directly relate, in terms of theory, to the VRQ qualification, the Foundation Diploma and also ABC Level 1 Catering. March Kindly contributed by Susan Brocklehurst, City College, Norwich. Search for Susan on This PPT accompanies a separate PDF workbook. Both resources directly relate, in terms of theory, to the VRQ qualification, the Foundation Diploma and also ABC Level 1 Catering.

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Gross profit Gross profit = sales – cost of sales Discuss: what does this formula mean? Complete the examples in your workbook. Swap with a partner and check each other’s work

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Net profit Net profit = sales – all costs In pairs, write down a list of all other costs that you can think of in a hotel/restaurant operation Feedback to whole class

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Costs Costs can be divided into: Cost of sales Overheads Labour/wages

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Overheads Discuss in pairs which costs fall under the heading of overheads – think about bills that come through the letter box each month. Feedback to class

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Wages/labour Discuss in pairs which costs fall under the heading of wages/labour – think about all the costs associated with employing someone. Feedback to class

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Net profit Net profit = sales – all costs Complete the examples in your workbook. Swap with a partner and check each other’s work

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% gross profit All organisations will work to an agreed % gross profit For example, Dunston Hall works to 74%, the George Hotel to 72%. % gross profit = gross profit/selling price x 100%

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Using % gross profit to calculate how much to charge for a dish If a dish costs £3.20 to produce and % gross profit is 70% How much should you charge for this dish? How did you work this out? Can you show this in a formula?

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