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Congratulations! You have been hired as the new manager for a new bakery called All the Yums in June. The baker/owner Monty Hillerman does

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Congratulations! You have been hired as the new manager for a new bakery called All the Yums in June. The baker/owner Monty Hillerman does most of the baking and has very little knowledge of accounting or business so he really needs your help to see how well the bakery is doing financially. Your first task is to create a budget for the bakery. Hillerman started All the Yums in January so you are going to set up the budget to show all 12 months of 2022. So far, you have been able to find receipts and invoices for the bakery as follows: Rent/lease Electricity $1,500 per month $400 for January, $450 for February, $379 for March, $350 for April, $325 for May, and $300 for June. (compute a simple average for the remaining months of the year). Cost of Goods produced: WIFI estimate $1,000 per month $100 per month Phone Marketing Payroll and taxes $80 per month $350 per month $0 for January, $500 for February, $500 for March, $1,200 for April, $1,200 for May, $3,600 for June and going forward through the year. So far sales have been: $2,000 for January, $3,000 for February, $3,500 for March, $4,800 for April and May (each), and $6,500 for June. Plan for sales to remain steady at $6,500 hundred through the rest of the year. Sales tax for SC is 7% and Rock Hill charges a 2% food and beverage tax. Set up these percentages near the top of your file and use absolute cell addressing in the line item for taxes as it is possible the taxes =could increase. Calculate the total expenses for each month. Then, calculate the net profit/loss.

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