Name: Product Cost Calculation for F&B Business
Brand: eFinancialModels
SKU: 434917
Price: 3.00 USD
Availability: InStock
Rating: 5.00 (1 reviews)

Product Cost Calculation for F&B Business

F&B (Food & Beverages), Financial Model

Bookkeeping, Excel

This financial model is about calculating the cost of the products for any Food & Beverage business.

This model contains 3 sheets:
1) Raw material List: This sheet has all the raw materials listed and has attributes, namely: Item Name, SKU Code (Unique Code), Unit (of the product LITRE /Kg, etc.), Base price of the item, Tax Value applicable on the product, Price with Tax (Final price of the item).
Any new item can be added to this sheet, which is further utilized in calculating the cost of the final product.

2) Product Constituents: This sheet has all the detail about the Product’s recipe. It contains attributes like Product Name, Product ID, SKU Code (of the Ingredient), Quantity (of the Ingredient), Measurement Unit, Cost (Total cost of particular Ingredient), and Cost of the Product (Final cost of the product).

Any new product’s recipe can be added to this sheet, and the SKU Code and Cost of the Ingredient will be automatically derived from the Raw material database sheet.

3) List of all products: This sheet contains the list of all the products and their final cost in one table. After adding a new product, the user only needs to refresh the pivot table, and the new product will appear on the table.

Process to add a new product:
1) First check if all the raw materials are present in the “Raw Material List” sheet if not, then add the raw material with the following details Item Name, SKU Code (Unique Code), Unit (of the product LITRE /Kg, etc.), Base price of the item, Tax Value applicable on the product the final cost after tax will be automatically calculated.
2) Add the product to the “Product Constituents” sheet. Add the following details Product Name, create a unique Product ID, Ingredient name, Quantity of the ingredient, Ingredient’s measurement unit, the model automatically calls the value of SKU Code of the Ingredient and calculates the Final price of the Product.
3) Go to the “List of All Products” sheet and refresh the pivot table using key “F5” , you will have the new product added to the final list.

From here, you can manage your cost of all products and further map this sheet with the Sales data (through Product ID) to get the Cost of Goods Sold and optimize for the cost.