Work cover insurance 900 900 0 Total expense 364400 365800 Net Profit 85600

Work cover insurance 900 900 0 total expense 364400

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Work cover insurance $900 $900 0% Total expense $364,400 $365,800 Net Profit $85,600 $109,200 Profit and Loss six months to Dec 2020 Brisbane Income Budget Actuals Variance Sales $350,000 $410,000 17.14% Expenses Electricity and gas $1,200 $2,800 133.33% Internet $1,100 $1,100 0% Office supplies $650 $1,300 100% Rent $185,000 $190,000 2.7% Stationary $700 $1,250 78.57% Wages and salaries $115,000 $117,000 0.17% Superannuation $15,000 $16,000 6.67% Travel and accommodation $2,100 $2,300 9.52% Water $1,900 $2,100 10.53% Work cover insurance $870 $870 0% Total expense $323,520 $334,720 Net Profit $26,480 $75,280
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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 variance Decrease 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 staf King Edward VII College To: Every staff of King Edward VII College From: Operational Team leader Date: 10/10/2019 Title: Effective and economical use of resource Comments: 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 bottle Bring your lunch to work Switch to reusable coffee cups Use the off switch Maximise computer efficiency Print smarter and go paperless where possible
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