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Part B - Written Assessment
This section has 2 Tasks. You are required to complete both tasks.
*IMPORTANT NOTE: SPREADSHEETS MUST BE PREPARED USING
MICROSOFT EXCEL
SCENARIO
Simpsons Pty Ltd is a small take away restaurant located in Sydney
CBD. The restaurant is owned by Mr & Mrs John Spice. The
restaurant started its activities in January current year. In December
current year the following information was collected:
SALES AND COGS ACTIVITIES FOR CURRENT YEAR
The restaurant sold 54,600 take away meals, and the price per meal
was $10.50. The food cost per meal sold was $4.60. Also 20,000 units
of soft drinks were sold during the year. Soft drinks are sold for $2.50
and the cost price was $0.80.
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

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