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Re-assessment: If you do not achieve the required standard, you will be given the opportunity tobe re-assessed by our Assessor. Arrangements will be made on an individual basis. If you aredeemed to be NS (Not Satisfactory), your assessor will either ask specific questions orally, andrecord them with you using the supplementary evidence sheet or you will be asked to resubmityour responses in full.Round all dollar values to the nearest whole number when calculating financial information; forexample, $12.55 becomes $13, $18.22 becomes $18.Unless stated otherwise, round all percentages to one decimal point when calculating financialinformation; for example, 12.55% becomes $12.6%, 18.22% becomes 18.2%.All budget calculations can be completed manually or using accounting software or computer-based spreadsheet software, such as Microsoft Excel or Google Sheets.Case studyThe Jackson hotel has a bistro, two bars (public and sports), a drive-through and walk-in bottle shop andTAB situated beside the sports bar.You are the manager of JJ’s Bistro. It seats 210 people and is open for lunch and dinner, seven days aweek. The hotel promotes a family environment and has a playroom for younger children and an activitycentre for pre-teens containing electronic and other games. This glass walled areas are within view ofcustomers seated in the rear section of the bistro.The hotel’s management team develop an operational budget for the business based on previousbudgets, anticipated business and any special projects, such as renovations or new products. Eachoperational area within the hotel is given a departmental budget based on organisational goals and theiranticipated revenue and expenses.Budgets are developed on a quarterly basis. Each department has quarterly and monthly budget targets.Monthly budgets can be adjusted during a quarterly cycle if circumstances within the department change.The following events have taken place during the April budget period.Prices for meat, fruit and vegetables have increased as a result of recent drought in some regionsand floods or storms in others.Prices for many wines have fallen due to a surplus in the market.Beer prices have risen slightly, again due to the drought leading to shortages of ingredients andan increase in government taxes.A major wine supplier has been running an in-house promotional campaign, with staff productknowledge training provided to help increase sales.The bistro menu changes to the new winter menu on May 1st. Its introduction is being promoted inApril throughout the hotel.
Task 1: Monitor budgetsRead the BudgetJackson Hotel operational budget – June quarterAprilMayJuneJune quarter$$$$RevenueFood sales116,800127,750120,450365,000Beverage sales240,000247,500262,500750,000Tab commission49,30047,85047,850145,000Total revenue406,100423,100430,8001,260,000Cost of salesFood purchases48,18049,64048,180146,000Beverage purchases84,00086,62591,875262,500Total cost of sales132,180136,265140,055408,500Gross profit273,920286,835290,745851,500ExpensesAccounting2,7003,0004,30010,000Advertising/promotions3,9004,8104,29013,000Bank charges7,5827,3597,35922,300Cleaning contractor7,4517,4517,45122,354Commission credit card7677677672,300

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Term
Three
Professor
N/A
Tags
Income Statement, Sarabjit Kaur

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