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Work cover insurance $900$9000%Total expense$364,400$365,800Net Profit$85,600$109,200Profit and Loss six months to Dec 2020 BrisbaneIncomeBudgetActualsVarianceSales$350,000$410,00017.14%ExpensesElectricity and gas$1,200$2,800133.33%Internet$1,100$1,1000%Office supplies $650$1,300100%Rent $185,000$190,0002.7%Stationary$700$1,25078.57%Wages and salaries$115,000$117,0000.17%Superannuation $15,000$16,0006.67%Travel and accommodation$2,100$2,3009.52%Water $1,900$2,10010.53%Work cover insurance $870$8700%Total expense$323,520$334,720Net Profit$26,480$75,280
Financial performance analysis Based on the financial performance for both campuses was quite satisfying. For Sydney campus a total of $109,200 profit was earned and for Brisbane campus a total $75,280 profit was earned. There were few variances between actuals and budgeted expenses were higher than 10% for both campuses.Variances For Sydney campus the variances that are higher than 10% is:Electricity and gas which is 100%Internet which is 10%Water which is 30%For Brisbane campus the variances that are higher than 10% is:Income: Sales which is 17.14%Electricity and gas which is 133.33%Office supplies which is 100%Stationary which is 78.57%Water which is 10.53%Recommendation way to deal with the varianceDecrease the usage of air-conditioner and make sure that student doesn’t waste electricity.Make sure that student doesn’t waste water in the toilet.Choose cheaper stationary Choose a cheaper internet provider company.Memo to stafKing Edward VII CollegeTo: Every staff of King Edward VII CollegeFrom: Operational Team leaderDate: 10/10/2019Title: Effective and economical use of resourceComments: The purpose of this memo is to coach you all on how to use resource wisely to avoid wastage from occurring.Bring a reusable water bottleBring your lunch to workSwitch to reusable coffee cupsUse the off switchMaximise computer efficiencyPrint smarter and go paperless where possible