Save time tracking your ingredients!
If you are looking to calculate the price and/or cost of your baked items, whether for the school bake sale, online shop or restaurant, this template can help! The spreadsheet is set up with 2 sections within 1 page that are linked together, saving you time on data entry and easily converting the different ingredient measurements needed to price accurately.
The file is color coded to be easy to use, green cells to enter your data, and grey cells are the formulas that will automatically calculate based on what is entered in the green cells.
Section 1 - Convert Ingredients and Supplies into Similar Measurements
In this section you will enter your ingredients or materials used in packaging. For ingredients that you will want to convert to smaller measurements (for recipe pricing), you will enter the total price paid, the quantity and the original measurement. You will then select what you would like to convert it to. The grey columns to the right will then calculate the rest! For example, if you buy flour by the pound, but use it in various recipes, you can convert what you paid for that pound of flour into the price per cup or tablespoon. This will help you when you go to price that specific recipe.
Section 2 - Price Your Recipes
You can price individual baked items or a whole batch recipe, by selecting the yield. For example, you can enter all the ingredients for a batch of cookies and then enter your yield of 25 cookies and the file with calculate the recommended price per cookie. Or enter the yield as 1 if you want the total price for all cookies. You will be able to price up to 30 different recipes (all with different yields), although you can also save the file multiple times if you need more.
How to price:
*First enter the ingredients. The first 8 ingredients will link back to the ingredients/supplies that are entered in section 1, so it will automatically add in the price per measurement you had converted the ingredient to. For example, if you had converted flour from pounds to tablespoons in the above section, in the pricing section you would select flour and enter the amount of tablespoons used. The file will add in the cost per tablespoon and total cost (*number of tablespoons), for each ingredient you list.
The last 3 ingredients are for entering anything else. This is for items or ingredients that you didn’t need to add in the top section
*Next, you will then enter:
•Amount of time to make your recipe
•A desired hourly rate (you enter your rate once at the top, but can change it anytime).
•Select Yes or No, for being a batch recipe. For example, is this for a batch of cookies that you will be selling individually?
•If Yes for the batch recipe, you’ll enter the yield (ie. 50 cookies)
*The file will then calculate:
•A recommended retail price per cookie and/or the total recommended retail price
•A total recommended wholesale price
•Cost of time & cost of material
You can then enter your final price, if you prefer to round and change it based on any other market research.