Prepare a 2nd spreadsheet similar to Question 1 for the annual Profit and Loss

Prepare a 2nd spreadsheet similar to question 1 for

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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. (10 marks)
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Question 3: Based on the following assumptions prepare a 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 was 15,000 units • Utilities 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. (15 marks) Question 4: In order to control costs prepare a 4th spreadsheet; identifying and recording the necessary adjustments to be made to the budget for the 2nd, 3rd and 4th quarters of next year. (15 marks) Task 2 Task 2 requires you to identify options for improved budget performance. Write a one page financial report to the restaurant owners; include the following: a. Based on the variances found, identify the possible causes for such deviations and incorporate your recommendations for improving the business performance. (10 marks) b. Include your suggestions regarding the Contract for purchasing soft drinks. (10 marks) c. Explain your reasons for the necessary adjustments made to the budget for the 2nd, 3rd and 4th quarters of next year. (10 marks) Part A total: 20 marks Part B total: 80 marks Assessment 1 total: 100 marks
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REFERENCES - - or-company-registrations/
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