The goddess and god (as the priestess and priest) now bless the cakes and wine which are then shared communaly. It is important to understand that the food and drink is bounty of the earth and the important part is the sharing of them, not that they are representative of any symbolism as in a certain other religion as body and blood.
How its Done:
The priest takes the athame and the priestess the cup containing the wine (or beer) and, holding the tip in the liquid, proclaims:
As the athame is male, so the cup is female, conjoined may they bring blessedness.
[Priestess] Blesed Be!
Now the priest gives the athame to the priestess who uses it to make the first cut of the cake saying:
Lady bless this, thy bounty, the fruit of the earth that brings us life and community when we share it.
[Priest] Blesed Be!
The wine now passes deosil around the circle follwed by the cake and all drink and eat. I've seen priests carry the cup and hand it to each to drink and also seen just the cup pass from person to person, I think I prefer the second as I feel it enhances the notion of community more.