7.

$ $

Fire Health and safety fees 1500.00 1500.00

Window Cleaning contract 1695.10 1771.37

Carpet Cleaning contract 1440.25 1505.06

Equipment maintenance 2540.25 2654.56

contracts

5 year major overhaul on cold 1350.00 1350.00

larder

Major Stove repairs - 740.00 773.3

electrical fault

Special fund 2500

Total 9265.55 12054.29

Part A:

1.a.Actual sale of food, beverage and total.

Item 2015/2016 2016/2017

Food sales $523500.00 $569,306.25

Beverage sales $282200.00 $301,248.50

TOTAL $805700.00 $870,554.75

The annual total of the budget is attached in the excel sheet

Formulas for calculating the budget :

Total sale = food sale + beverage sale

Food sale % = Food sales/Total sales*100

Beverage sale % = Beverage sales / Total sales *100

Food cost % = Food cost / total sale * 100

Total cost = Food sale + beverage cost

Beverage cost % = Beverage cost/total sale * 100

Food% = Food/gross profit *100

Beverage % = Beverage /Gross Profit *100

Gross profit = Total sale - total cost

Gross profit % = Total sale %- total cost%

Net profit = gross profit - expenses

Net profit % = gross profit % - expenses %

2. The draft budget .

1. The Profit and loss statement 2015/2016 is slightly increase in the many things such as
the Food sale in 2015/16 is $523,500.00 and it is increases 8.75% in 2016/17 which will
be $569,306.25 and the beverage sale in 2015/16 is $282,200.00 which will increase
6.75% in 2016/17 which will be $301,248.50.

2. The total revenue of the food sale and the beverage sale increases in 2016/17 will be
$870,554.75.

3. The food cost are increase by 2.50% which will be $179756.81 and the beverage cost by
7.75% which will be $122,388.38.

4. The total purchase of the food cost and the beverage cost increases in 2016/17 which
will be $302145.19.

5. During the last year John and Judy , hire the marketing consultant to prepare a
promotional plan for the next five year , the owner should allocate at least 3.5 % of the
sals trover for entertainment which will be $18,266.68. This should be split into 50/50
between the relevant cost.
6. As from 1st october 2016, there will be an increase in the wages in the 2015/16 is
$220,842.37 and it is increased 2.75% in 201617 which will be $225,392.00. And also
 estimated that the employee benefits in 2015/16 is $36,337.07 which will increase 2,25%
in 2016/17 which will be $36949.17.

7. The press has informed that the power and phone charges in 2015/16 is $15,630.58 and
it is increased by 6.75% in 2016/17 which will be $16,421.88

8. All the repair and maintenance contracts will be subjected to increase in in 2016/17
which will be $22,253.70.

9. The rates and insurance ledger account for the last year in increase by the 7.75% which
will be $4,310.00.

10. The net profit is $127772.95.

3.
The run of the mill spending execution of the restaurant for the coming year 2017 is great , there
is an advancement in the offer of the sustenance deal and the drink deal. The cost of the stock
are in like way increments , in increment in the sustenance deal and the savor deal, light of the
way that the request is increases.The costs for the notice additionally increases.The telephone
charges is besides stretched out by 6.65% and the rates of the security record is in like way
increment, for example, the rates are reached out by 7.75% yet the protection stay same. There
is no change.

4.
The management responsibilities in regards to managing the budget
● asking for spending changes,
● submitting exchanges,
● affirming exchanges and
● asking for installments.

Task 2: Catering and Special Events are attached in the mail.

Part A:

1.The budget is attached in the mail as per the increasing budget.

2. The expected budget performance of the catering and special events is good . as we are
review the budget 2016/2017 there is the increase in the many of the budget such as revenue of
the 2015/2016 is less as compared to the 2016/2017 , there is the increase in the revenue in the
2016/2017 .
The total budget of 2015/2016 is including all the expenses and all the data is 1522948 and
which is increase in the 2016/2017 is 1559045.11 .
The net profit of the budget in 2016/2017 is increases 108022.66. It means there should be an
increase in the profit of the company.

In the budget there should be an contribution of the many items which increase the profitability
of the budget. Such as the items are including in it are as follows : the food sale is increase by
4.40% and the beverage sale is increased by 2.50%.

In the expenditure there are many items which is increased in most are as electricity by 6.25%
and gas by 6.25% and many more items are increased .

3.Management responsibilities to manage the budget are as follows:

1. Manage all the financial decisions and transactions undertaken comply with the
company policies and procedure.
2. Ensure that the staff has to be skilled and provide proper training to handle the
responsibility.
3. Manage budget allocations, income and expenditure for which responsible.
4. Ensure budget is adequate or funds are available to cover all expenditure.

Part B:

1. The Profit and loss statement 2015/2016 is slightly increase in the many things such as
the Food sale in 2015/16 is $930435.00 and it is increases 4.40% in 2016/17 which will
be $971374.14 and the beverage sale in 2015/16 is $667210.00 which will increase
2.50% in 2016/17 which will be $695693.63.

2. In the expenditure the the function centre rent in 2015 /2016 is $188000.00 which will
increase 5% in 2016/2017 which will be $192700.00

3. As from 1st october 2016, there will be an increase in the wages in the 2015/16 is
$523020.00 and it is increased 1.25% in 201617 which will be $529557.75.

4. The food cost are increase by 3% which will be $503907.93 and the beverage cost by
5% which will be $240823.43.

5. The business insurance in 2015/2016 is $5284.00 which will increase 2.50% in 2016/17
which will be $5284.

6. The electricity in 2015/2016 is $4429.00 which will increase 6.25% in 2016/17 which
will be $4705.81.

7. The gas in 2015/2016 is $3898.00 which will increase 6.25% in 2016/17 which will be
$4141.63.
 8. The party hire in 2015/2016 is $58924.00 which will increase 3.25% in 2016/17 which
will be $59881.52.

9. The net profit in 2015/2016 is $74697.00 which is increased in 2016/2017 which will be
$108022.66.

Part C: The budget is attached after the changes in the excel sheet.