Soft drinks are sold for 250 and the cost price was 080 BUDGET FORECASTING FOR

Soft drinks are sold for 250 and the cost price was

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Soft drinks are sold for $2.50 and the cost price was $0.80.
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BUDGET FORECASTING FOR NEXT YEAR The owners estimated that for the next year the price per take away meal could be increased to $13.00. They have also predicted that sales (in units) would be increased by 10% in next year. The owners have entered into a monthly Contract with the soft drinks supplier. According to the Contract the restaurant must purchase a minimum of 2,000 units of soft drinks per month and the cost price will be reduced to $0.50 per unit. The restaurant owners decided to reduce the selling price of soft drinks to $1.50 in order to increase sales (in units) by 50% and are expecting to meet the required selling demand. The owners have anticipated the following expenses for next year: ANTICIPATED YEARLY EXPENSES FOR NEXT YEAR Cost of Goods Sold (food + beverage) $291,276 Rent $ 24,000 Utilities $ 10,000 Wages $ 60,000 Miscellaneous $ 6,000 [Hint: You may firstly calculate the daily sales, and then apply the number of days to work out the monthly figures. When working out or forecasting the accounts for cost of goods sold and expenses, you may consider to use the daily method or percentage of sales method.] Task 1 Task 1 has 4 activities which require you to prepare Microsoft Excel spreadsheets based on given scenarios to monitor and review the budgets Upload this as a separate document in Google Classrooms Question 1: *IMPORTANT NOTE: SPREADSHEETS MUST BE PREPARED USING MICROSOFT EXCEL Based on the above Sales and COGS activities for current year; Prepare a spreadsheet with annual Sales for food and drinks and COGS for meals and drinks; in addition include columns for the monthly average and quarterly average. (10 marks) Using the prepared template from Question 1; continue with the following: Question 2: Based on the Budget forecasting for next year, as mentioned in the scenario:
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