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To: lewislynn

Cost is per entree/dollar. So six percent stands so the per item cost increases is 6 cents on a dollar.


102 posted on 03/14/2015 8:49:41 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
36 percent of funds are devoted to labor, 30 percent to food costs and 30 percent go to everything else (all other operational costs). The remaining 4 percent has been the profit margin, and as a result, in a $700,000 restaurant, he estimates that the average restauranteur in Seattle has been making $28,000 a year.

“With the minimum wage spike, however, he says that if restaurant owners made no changes, the labor cost in quick service restaurants would rise to 42 percent and in full service restaurants to 47 percent.”

So six percent stands so the per item cost increases is 6 cents on a dollar.
The subject is Min. wage, not "per item cost" (where did that come from?) You can't change the fact that an increase from 36 to 42 is a 16.66% increase and the math doesn't care if it's items or percentages.
157 posted on 03/19/2015 3:20:27 PM PDT by lewislynn (What does the global warming movement and the Fairtax movement have in common? Disinformation)
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