Prepare and Manage Budgets: Anticipated Revenue, Overheads, Profit, and Variance Analysis

Running head: PREPARE AND MANAGE BUDGETS
Prepare and manage budgets
Name of the student
Name of the university
Student ID
Author note

1PREPARE AND MANAGE BUDGETS
Table of Contents
Task 1.........................................................................................................................................2
Task 2.........................................................................................................................................2
Answer 1 – Anticipated food revenue....................................................................................2
Answer 2 - Anticipated beverage revenue.............................................................................2
Answer 3 – Total revenue......................................................................................................3
Answer 4 – Overheads...........................................................................................................3
Answer 5 – Profit...................................................................................................................4
Answer 6 – Cost of goods sold..............................................................................................4
Answer 7 – Staff costs............................................................................................................5
Answer 8 – Other Overheads.................................................................................................5
Task 3.........................................................................................................................................6
Answer 1 – Variance..............................................................................................................6
Answer 2 – Investigation for variance...................................................................................7
Answer 3 – Suggested option to rectify the issues.................................................................8
Reference....................................................................................................................................9

2PREPARE AND MANAGE BUDGETS
Task 1
Follow the Excel sheet
Task 2
Answer 1 – Anticipated food revenue
Month
Customer
number Average food spend Total food spend
January 1850 $ 45.00 $ 83,250.00
February 2000 $ 37.00 $ 74,000.00
March 700 $ 42.00 $ 29,400.00
April 1200 $ 48.00 $ 57,600.00
May 1200 $ 36.50 $ 43,800.00
June 600 $ 35.00 $ 21,000.00
July 950 $ 34.00 $ 32,300.00
August 800 $ 38.00 $ 30,400.00
September 900 $ 29.00 $ 26,100.00
October 650 $ 29.50 $ 19,175.00
November 980 $ 35.50 $ 34,790.00
December 2200 $ 48.00 $ 105,600.00
Total $ 557,415.00
Answer 2 - Anticipated beverage revenue
Month
Customer
number Average beverage spend Total beverage spend
January 1850 $ 9.70 $ 17,945.00
February 2000 $ 9.70 $ 19,400.00
March 700 $ 9.70 $ 6,790.00
April 1200 $ 9.70 $ 11,640.00
May 1200 $ 9.70 $ 11,640.00
June 600 $ 9.70 $ 5,820.00
July 950 $ 9.70 $ 9,215.00
August 800 $ 9.70 $ 7,760.00
September 900 $ 9.70 $ 8,730.00
October 650 $ 9.70 $ 6,305.00
November 980 $ 9.70 $ 9,506.00
December 2200 $ 9.70 $ 21,340.00