{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

week 8 - 13-1 Hoof and Fin Restaurants You are required to...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
13-1 Hoof and Fin Restaurants You are required to play the role of David Green, and develop an analysis and a one-half page memo to Mr. Gregson which explains your performance for the year end December 31, 2008. To: Marv Gregson Chief Financial Officer Hoof and Fin Restaurants From: David Green Manager Hoof and Fin, Waco, TX Date: January 1, 2010 Subject: Performance Year Ended December 31, 2008 For the performance year which ended on December 31, 2008 the Hoof and Fin Restaurant located in Waco, Texas fell below the budget that has been set. The budget showed that the company should make a profit of $86,300. The restaurant only made a profit of $34,143. Therefore they are short by $52,157. The profit is lower than the projections, because the sales of steak dinners have substantially decreased. Although the seafood dinner sales increased which created an opportunity for a slight increase in price, it still was not enough to reach the goals of the budget. One of the things that had a large affect on the profit in the budget was the projected amount for the taxes. In the budget, there is $6,500 that is allotted for taxes, and the actual cost for the taxes was $9,220. Unfortunately the taxes are a variable cost as with all bills, and there
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}