ASSIGNMENT- BUDGETING

Complete the income statements below, and complete the information for a common size analysis

and a comparative analysis.

Budget (year 20XX) Actual (year 20XX) Common Comparative Analysis Size (Variance) Analysis (Variance) Sales $ % $ % $ % Food $ 1,830,000 $ 1,790,000 Beverage $ 480,000 $ 490,000 Total Sales $ Cost of Sales Food Cost $ 550,000 $ 556,000 Beverage Cost $ 100,000 $ 102,000 Total Cost of Goods $ Sold Gross Profit $ Labor Salaries and Wages $ 670,000 $ 684,000 Employee Benefits $ 125,000 $ 128,000 Total Labor Cost Prime Cost Controllable Expenses Direct Operating $ 145,000 $ 144,000 Expenses Music and $ 30,000 $ 20,000 Entertainment Marketing $ 80,000 $ 82,000 Utilities $ 92,000 $ 91,500