| Country : | Australia |
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Assignment Task:
Task 1
Task 1 has 4 activities which require you to prepare Microsoft Excel spreadsheets based on given scenarios to monitor and review the budgets Upload this as a separate document in Google Classrooms
Question 1:
Based on the above Sates and COGS activities for the current year; Prepare a spreadsheet with annual Sales for food and drinks and COGS for meals and drinks; in addition, include columns for the monthly average and quarterly average.
Using the prepared template from Question 1; continue with the following,
Question 2:
Based on the Budget forecasting for next year. as mentioned in the scenario: Prepare a 2nd spreadsheet similar to Question 1 for the annual Profit and Loss Budget; also include end columns for average monthly and average quarterly totals.
Question 3:
Based on the following assumptions prepare the 3rd spreadsheet with the actual trading activities for the 1st quarter next year
ASSUME THAT DURING THE 1ST QUARTER OF NEXT YEAR:
• Food revenue was 20% higher than the budget forecasted• Food Cost was 30% higher than the budget forecasted
• Beverage sales were 15,000 units
• Utility Expense was $3,000
• Wages expense $20,000
• Rent expense was $6,500 You are required to monitor the trading activities for Simpsons Pty Ltd for the first quarter of next year and identify and record in an additional column all dollar ($) variances from the forecasted budget.
Question 4:
In order to control costs prepare the 4th spreadsheet; identifying and recording the necessary adjustments to be made to the budget for the 2nd, 3rd and 4th quarters of next year.
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