Consolidated Indexed Theoretical Cost

The Consolidated Indexed Theoretical Cost report will allow users to pinpoint Theoretical Cost variations by comparing a product's genuine theoretical cost (i.e. what the cost actually was) against an "Indexed" theoretical cost (i.e. what the cost could have been if the product's per-unit cost was different). Click HERE to see Related and Recommended setup.

The summary report displays data at the Location level, which can be used to compare and rank locations, markets, and concepts based on total net sales, actual cost of goods sold, actual and indexed theoretical cost of goods sold, and the variances between them. This view can also help identify locations for which the theoretical cost fluctuation is significant compared to location sales.

The detailed "drill-down" report displays data at the GL Account level, which can be used to compare and rank GL accounts based on actual cost of goods sold, actual and indexed theoretical cost of goods sold, and the variances between them.

Both views give visibility to the value of wasted products. In order for these "Waste" values to be meaningful, store-level users must be creating Inventory Adjustments in as accurate and timely a manner as possible.

Menu Paths: Net-Chef > Inventory: Reports > Consolidated Indexed Theoretical Cost
Menu Paths: Net-Chef > Reports: Inventory > Consolidated Indexed Theoretical Cost

Retrieval Note: Unlike other consolidated reports, the user does not need to select a hierarchy; the report will include all locations within the highest hierarchy level associated with the user.

Report Controls

Reference Data: Retrieve by Market or Location, select a specific option and reference date. This will provide the fixed product prices used to calculate the indexed theoretical costs, against which a location’s actual theoretical costs can be compared. (When a location is selected, the report will look at bid prices in the location’s market; the report is NOT using Location Product prices.)

Objective Locations: Select a Concept, Hierarchy, Market, Single Location or User Defined Category to display data for only the related locations/products; defaults to 'All'.

Objective Date Range: Select either the 'Financial' or 'Post' Calendar and a Begin Date & End Date

Group Locations By: Concept, Market, or State

Filter Included Products By: Active, Category, Subcategory, Microcategory, GL, Product Type, Template, User Defined Category

Show Values as % of Sales: Check this to display percentage columns.

Missing Reference Bids: Downloads a PDF report that shows all products with no valid bid in the reference market.

Funnel (Filters): Any report column

Printer (Export): PDF, Excel, CSV formats

-><- , <-->: Click to minimize/maximize the report header

Report Columns:

Click any column header to sort by the data in that column.

Location Code, Location Name (Location view only) – The code and name for the location.
Total Net Sales (Location view only) = Sum of [ (POS Sales – Comps & Discounts) + value of Reconciled Commissary and Customer Orders ] for all days across all periods retrieved.
GL Code/Description (GL view only) – The code and name for the General Ledger account.
Cost of Goods Sold = Sum of [ (Beginning Inventory Qty in the first retrieved period + Purchased Qty in all retrieved periods – outgoing Location Transfer Values in all retrieved periods – Ending Inventory Qty in the last retrieved period) x Inventory Cost ] for all products consumed across all periods.
CGS % of Sales = [ (Cost of Goods Sold ÷ Total Net Sales) x 100 ]
Theoretical Cost = Sum of [ (Total Menu Mix Sales Qty + Qty of Reconciled Commissary and Customer Orders + Buffet Consumption "Consumed Qty") x Inventory Cost ] for all days across all periods retrieved.
Theoretical % of Sales = [ (Theoretical Cost ÷ Total Net Sales) x 100 ]
Actual/Theoretical Cost Variance = [ Theoretical Cost – Cost of Goods Sold ]
Actual/Theoretical Cost Variance % of Sales = [ ((Theoretical Cost – Cost of Goods Sold) ÷ Total Net Sales) x 100 ]
Indexed Theoretical Cost = Sum of [ (Total Menu Mix Sales Qty + Qty of Reconciled Commissary and Customer Orders + Buffet Consumption "Consumed Qty") x Reference Price ] for all days across all periods retrieved. (Reference Price = the contract or lowest bid price; if a product has no valid bid, will use the Theoretical Cost.)
Indexed Theoretical % of Sales = [ (Indexed Theoretical Cost ÷ Total Net Sales) x 100 ]
Theoretical/Indexed Theoretical Cost Variance = [ Theoretical Cost – Indexed Theoretical Cost ]
Theoretical/Indexed Theoretical Cost Variance % of Sales = [ ((Theoretical Cost – Indexed Theoretical Cost) ÷ Total Net Sales) x 100 ]
Waste = Sum of Inventory Adjustment transactions for all products wasted across all periods.
Waste % of Sales = [ (Waste ÷ Total Net Sales) x 100 ]
Inventory Variance = Sum of end-of-period Inventory Variances for all products across all periods.
Inventory Variance % of Sales = [ (Inventory Variance ÷ Total Net Sales) x 100 ]

“Drill Down” Links:

Location Name – Opens a General Ledger Detail sub-report for the location.
Grand Total (label) – Opens a General Ledger Detail sub-report for all locations.

Note: Some columns have the same name as columns in other reports. Columns are specific to each individual report and therefore the calculations may not be equivalent. As a result, columns with the same name, e.g. Theoretical Cost, may not contain the same value across reports.