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THE 4 M's OF PRODUSTION IN COOKERY
Transcript of THE 4 M's OF PRODUSTION IN COOKERY
THIS REFERS TO THE FINANCIAL CAPITAL THAT YOU WILL NEED TO BUY THE NEEDED MATERIALS IN MAKING PRODUCTS. THERE ARE BANKS AND MONEY LENDERS THAT PROVIDE LOANS FOR AN INTEREST. A HUGE LOAN NEEDS COLLATERAL SUCH AS LAND TITLE.
THE 4 M'S:
THIS REFERS TO A DEVICE THAT PERFORMS SPECIFIC TYPE OF WORK AND USUALLY USES ENERGY TO PERFORM TASK. IN FOOD INDUSTRIES, FOOD PROCESSORS ARE INDISPENSABLE IN PRODUCING PRODUCTS.
THIS PERTAINS TO ANYTHING USED AS INPUTS TO PRODUCTION OR MANUFACTURING. A MATERIAL CAN BE FINISHED PRODUCT OR AN UNPROCESSED RAW MATERIAL. RAW MATERIALS ARE FIRSTEXTRACTED OR HARVESTED AND PROCESSED TO PRODUCE SEMI-FINISHED MATERIALS.
THE 4 M's OF PRODUCTION IN COOKERY
THE ECONOMIC PROCESS OF CONVERTING RAW MATERIALS INTO PRODUCTS SUITABLE FOR EXCHANGE IS CALLED
. TO MAKE PRODUCTION IN COOKERY SUCCESSFUL, YOU NEED TO CONSIDER THE FOLLOWING:
THIS REFERS TO THE WORKFORCE WHICH WILL HELP YOU PRODUCE MORE PRODUCTS. YOU NEED TO HIRE GOOD AND SKILLFUL PEOPLE TO PRODUCE QUALITY PRODUCTS.
COMPUTATION OF PRODUCTION COST AND SELLING PRICE
IS THE SYSTEM OF LISTING DOWN COST OF PRODUCTION OR OF RUNNING A BUSINESS, BY ALLOCATING EXPENDITURE TO VARIOUS STAGES OF PRODUCTION OR A DIFFERENT OPERATIONS OF A FIRM.
AMONG THE COST CONSIDERED ARE INGREDIENTS, PACKAGING MATERIALS, LABOR, TRANSPORTATION, AND SELLING EXPENSES. THROUGH COSTING, YOU CAN DETERMINE THAT PRICE AT WHICH YOU SHOULD SELL YOUR FINISHED PRODUCTS.
THE FOLLOWING ARE STEPS ON HOW TO DETERMINE THE SELLING PRICE:
1. LIST ALL THE INGREDIENTS AND PACKAGING MATERIALS USED.
2. MAKE A LIST OF OPERATING EXPENSES:
Any device used to move an item from one location to another.
Is a primary factor of production.
An amount paid or received as rent.
Is the set of physical phenomena associated with the presence and flow of electric charge.
Is a fast and efficient way to cook.
F. WATER BILL
A regular charge that is made to people for the use of their local water supply.
3. LIST DOWN ALL EXPENSES FOR INGREDIENTS AND OPERATING EXPENSES
4. DETERMINE THE PRODUCT YIELD.
5. DIVIDE THE TOTAL COST WITH NUMBER OF YIELD TO SET THE COST.
6. DECIDE HOW MUCH YOU WILL ADD TO THE COST OF LABORS.
LANCE LAUREN DS LAZARTE
MEMBERS & CONTRIBUTORS:
AUBREY JANE SAN JOSE
MA. PAULINE STA. ANA