Monitor and review the above budget against performance
Class: ______________________
Unit name: _____
The evidence I have submitted for assessment is my own work, and
The evidence I have submitted for assessment has not been shared with other students, and I have taken all reasonable precautions to ensure that my work cannot be accessed by other students that may seek to submit my work as their own, and
Date of Submission: ___ / /20
the way an assessment was carried out by your trainer; or
the conditions or structure of the assessment
• Student demonstrating knowledge through verbal discussion to identify correct answers
• Student demonstrating knowledge through applied skills
• Adjustments to the assessment methods to cater for any special needs (without effecting the integrity of the outcome)
If a student requests or is identified as requiring reasonable adjustment to the training and assessment process a detailed training and assessment plan including timetables, notes regarding the required adjustments, and any related communications regarding the adjustments must be maintained in the students file.
Instructions: Your Task
Based on the following information of Academia Resort you are required to develop a Budget and a Report for the next calendar year 2019 – 2020 that meets the specific business needs. Check Moodle announcement for submission due dates.
Monitor and review the above budget against performance over its life cycle.
| Revenue | 2018 – 2019 |
|
|---|---|---|
| Food | 219,000 | |
| Beverage | 73,000 | |
| Accommodation | 434,000 | |
| 726,000 | ||
| Cost of Sales (COGS) | ||
| Food | 54,750 (25%) | |
| Beverage | 21,900 (30%) | |
| Accommodation | 86,800 (20%) | |
| Total Cost of Sales (COGS) | 163,450 | |
| Gross Profit | 562,550 | |
| Operating Expenses | ||
| Wages | 181,500 | |
| Operating supplies | 36,000 | |
| Administration | 18,000 | |
| Advertising | 36,000 | |
| Maintenance | 20,000 | |
| Utilities | 32,000 | |
| Depreciation | 10,000 | |
| Interest | 17,500 | |
| Total Other Expenses | 351,000 | |
| Net profit before tax | 211,550 | |
The guests will be willing to spend more per head if the staff up sells successfully – management expects a 20% increase in both food and beverage average sales.
Room revenue is based on the following calculation:
The impacts of loss in Net profit and the reason for it and explain how you would try to maintain a positive business to meet new requirements. Investigate and take appropriate action on significant deviations.
Monitor and review the above budget against performance over its life cycle.
| 2018 - 2019 | 2019 - 2020 | Variance | % Change | Profit Increase to 28% | ||
|---|---|---|---|---|---|---|
| Current Budget | With cost increases | |||||
| Revenue | $ | $ | $ | $ | ||
| Food | ||||||
| Beverage | ||||||
| Accommodation | ||||||
| Total Revenue | ||||||
| Cost of Sales | $ | $ | $ | $ | ||
| Food (25%) | ||||||
| Beverage (30%) | ||||||
| Accommodation (20%) | ||||||
| Total COGS | ||||||
| Gross Profit | ||||||
| Operating Expenses | $ | $ | $ | $ | ||
| Wages | ||||||
| Operating supplies | ||||||
| Administration | ||||||
| Advertising | ||||||
| Maintenance | ||||||
| Utilities | ||||||
| Depreciation | ||||||
| Interest | ||||||
| Total Operating Costs | ||||||
| Net profit before tax | ||||||
| 28% Increase in profit | ||||||
Trainer’s Signature Date