please help with Part2b: budget variances. please include formulas used. THANK YOU SO MUCH
Design Layout References Mailings Review View 12 E AL A Aav Ao ADA ab x Styles Styles Pane Dictate Sensit Part 2a: Budgeting Revenues and Cost of Sales A resort hotel has a dining room that has no business from street traffic; it is dependent solely on the occupancy of its rooms for its sales revenues. It has 150 rooms. During the month of June, it expects 80% occupancy of those rooms. Because the resort caters to families, there is on average three people per occupied room per night. From past experience, management knows that 95% of the people occupying a room eat breakfast, 25% eat lunch, and 75% eat dinner in the hotel's dining room. The dining room is open seven days a week for all three meals. Its average meal prices and food cost percentages are: Meal Period Average Food Check Food Cost % Breakfast $14.50 10% Lunch $17.50 20% Dinner $22.60 30% Calculate the budgeted dining room revenue and food cost dollars for the month of June, show all your work. Please use an Excel Worksheet to do so. Hint: You need to calculate number of estimated guests to calculate the revenue figures. First figure out volumes and then figure out guests based on the information provided. Part 2b: Budget Variances Assume the following were the actual results for June, calculate the revenue variances for all throa man nariade and the act of enlae xorinnga for all thras man nariade Tea tha formulae English (United States) Focus Sensi 12 | A A Aa. A E E AL ab x x A.A. Styles Styles Dictate Laluat muc vuugcicu ummmg Toom Ivanu anu 1004 Cost onans To WC mon or JUDIC, SHOW all your work. Please use an Excel Worksheet to do so. Pane Hint: You need to calculate number of estimated guests to calculate the revenue figures. First figure out volumes and then figure out guests based on the information provided. Part 2b: Budget Variances Assume the following were the actual results for June, calculate the revenue variances for all three meal periods and the cost of sales variance for all three meal periods. Use the formulas discussed in the lectures and show all your work. Use an Excel Worksheet to do so. Meal Period Revenue Guests Cost of Sales Breakfast $150,000 10,000 $22,500 Lunch $56,000 3,500 $11,200 Dinner $186,300 8,100 $52,164 li D20 * fx A B D E 1 Budgeting Revenues and cost of Sales Breakfast Lunch Dinner 95% 25% 14.50 $ 17.50 $ 75% 22.60 $ 342 $ 90.00 270 3 # of rooms(total): 105 4 Occupancy: 80% 5 Rooms Occupied: 120 6 3 people per room * 120 rooms: 360 persons 7 8 Number of People 9 360 10 Occupancy 11 Avg. check prices 12 13 # of persons eating 14 15 Budgeting Revenue 16 17 Total 18 19 Food cost % 20 21 Total food cost % 22 23 24 25 26 $4,959.00 1575 $ 6,102.00 10% 20% 30% $495.90 $315.00 $ 1,830.60 27 Selling price, variable cost, a Budgeting Revenues and Cost of Sheet3 Ready Mac
