What Toby calculates
Ingredient cost : purchase price excluding tax × converted quantity used ÷ quantity covered by the price.
Gross profit : excluding-tax menu price − ingredient cost.
Margin : gross profit ÷ excluding-tax menu price × 100.
Food cost : ingredient cost ÷ excluding-tax menu price × 100.
Minimum price : ingredient cost ÷ (100% − target margin).