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4 5 Shopping Mall 6 . A food court in a shopping mall offers sandwiches, snacks and drinks for an average of customers who use the centre on a daily basis, although it is estimated that only 9% use the facilities. 16,500 of these 8 10 11 The current annual situation is as follows: 12 N The mall is open for 364 days a year 12 hours per day 13 14 15 16 17 18 19 20 21 22 23 24 25 4 5 67890 Average Spend Cost of Sales Rent is paid at Other Variable Costs Salaries Wages Operating expenses 2.80 $ 1.70 17% of Sales 8% of Sales $ 21,500 $ 35,000 $ 61,500 Fixed costs per annum O The cost of sales is expected to rise by 5% at the start of next year. A small supermarket has recently opened in the centre and appears to be reducing the level of business as they also sell sandwiches and snacks at lower prices. The food court managers must consider various alternative actions if they are to maintain their sales levels and achieve budgeted profits. The following options are considered: 27 28 Option 1 Do nothing 29 30 31 Option 2 Increase prices and hence spend by an average of $ 20% but would save, in wages, a total of $ 0.35, which would reduce the number of customers by 5,500 32 WN 33 34 35 Option 3 Compete directly with the supermarket by applying to show an increase in customers by an estimated 15% 20% price reduction across the board, which would expect Also, to give an additional wage costs of $ 5,200 36 37 38 Incremental for chart 250 40 You are required to: 41 a) Prepare daily budgets for the current situation and for next year, showing the effect of no action. 42 b) Prepare daily budgets showing the effect of the two alternative options. 43