Appendix B - Budget Variance Report.xlsx Scenario: This is the continuation of assessment 2. It is now October 20XX (the first month of the second quarter) is over and it is time to start checking actual income and expenditure against the budget. The owners have asked restaurant manager to prepare a brief report on the performance of the first month of the present quarter. They have also asked you to investigate appropriate options for more effective management of deviations. Below is a copy of the actual Profit & Loss (P&L) statement for October 20XX. Review the statement and complete the following tasks. P&L Statement for October 20XX Details October 20XX Revenue Food Sales 78,610 Beverage Sales 71,440 Function Sales 92,500 Total Revenue 2,42,550 Operating Expenses Food Cost 47,623 Beverage Cost 24,982 Marketing 2,300 Rent 18,000 Telephones 440 Miscellaneous 1,399 Utilities 3,561 Wages - Base Salary 74,160 Superannuation 7,416 Total Operating Expenses 179,881 Net Profit or Loss 57,669 % of Budgeted Revenue 24.70%