the part 1,2 and 3 questions help for to this quetion

i need answers for part 4 and 5 (overhead budget question and budgeted statement of profit and loss) and the part 1,2 and question and answers help (thta you given) to this part 4 and 5

PART TWO Question 2 You are the accountant for Bellyful Restaurant. Following are assumptions about sales for the coming month Bellyful Restaurant offers three basic meals: noodle bowls, egg rolls, and rice bowls. Each meal can be prepared with several different meats or with vegetables only. Costs and prices are similar for all varieties of each meal. Prices for noodles bowls are $4 each, egg rolls are $3 each, and rice bowls are $3.50 each. Estimated sales for the next month are 200 noodle bowls, 100 egg roll meals, and 500 rice bowls per day. PART 1: Revenues budget Required: (a) Prepare a revenue budget for the next month assuming it is 30 days long. (3 marks) (b) Discuss two (2) factors that affect the budgeted volumes of meals. (2 marks) PART 2: Direct materials budget The owner of Bellyful Restaurant studied the cost of direct materials for each type of meal. He estimates that noodle bowls use about $1 in direct materials, egg rolls use about $0.75, and rice bowls use about $0.90. Food is purchased daily to ensure high quality. Beginning and ending inventory amounts are minimal. Required: (a) Prepare a direct materials usage budget and a direct materials purchases budget. (4 marks) (b) Discuss reasons why actual costs might be different from budgeted costs in part(b). (2 marks) (C) Suppose the prices of food ingredients increase. Identify possible ways the owner could keep food costs within the budget. Discuss drawbacks for each of your ideas. (2 marks) PART 3: Direct labour budget The owner of Bellyful Restaurant employs cooks and cashiers. The cashiers take orders and collect payment, transfer food from the cooks to customers, and clean tables. Cooks are paid $10 per hour, and cashiers are paid $8 per hour. Bellyful Restaurant operates four shifts: 10 to 2 11 to 2, 2 to 10, and 5 to 8. Weekdays and weekends are staffed similarly. Following are the shifts and required workers. Cooks Cashiers 2 Shift 10 am to 2 pm 11 am to 2 pm 2 pm to 10 pm 5 pm to 8 pm 2 3 3 2 N 3 Required: (a) Prepare a labour budget showing hours and costs for a month. (Assume 30 days per month.) (4 marks) (b) Discuss reasons why actual labour costs might turn out to be different from budgeted costs in part (a). (2 marks) (c) Identify possible ways the owner could reduce labour costs. Discuss possible drawbacks for each of your ideas. (2 marks) PART 4: Overhead budget Bellyful Restaurant does not separately account for production versus general overhead. Fixed overhead includes production overhead as well as support services and general administration. Variable overhead includes labour-related costs such as payroll taxes and employee benefits. Bellyful Restaurant has estimated variable overhead costs as $2.50 per direct labour hour. Following are the estimated fixed overhead costs for one month: Fored overhead costs: Utilities Manager Lease Miscellaneous Total $ 1300 5000 2000 2500 $10 800 Required: (a) Prepare an overhead costs budget for one month. (3 marks) 3 identify possible ways the owner could reduce overhead costs. Discuss possible drawbacks for each of your ideas. (2 marks) PART 5: Budgeted statement of profit or loss Refer to the information from the preceding budgets. The income statement for Bellyful Restaurant consists of revenues less direct costs (direct materials and direct labour) to determine the gross margin. Then the overhead costs are deducted to determine operating income. Required: (a) Prepare a budgeted income statement ignoring income taxes. (4 marks) (b) Bellyful Restaurant's owner would like to increase profits from the store. Suggest several possible ways to accomplish this goal. Explain your reasoning. (2 marks) [End] Answer 1 of 1 Done The concept hasbeen explained in details in image attached please share you valuable inputs. thanks. page-1 Solution:- As per the data - The owner of Belly feel restaurant employs cooks and cashiesis... labore Badget shift Heus cools cashies Hously Budget Butyded Per hos hes (HR) cashies Cooks ashes tools cases tom 4 2 2 10 S 16 80 125 Cooks 8 2P to 2p 3 3 3 10 9 2490 142 $ 2 2 10 $ 16 2 10 pm po to BA 16 160 128 3 3 3 10 8 9 249192 2 30 420 640 Budget Total Anes cast Pex Mouth 1260 2400 12.00 19.000 cost Page 2 be there could be multiple reason budget cost or hour different from actual, Budgeted CA are as per past experience but actual working is different. Here these are so many shift available that is the main reason actual varies from budgeted. c) Possible ways of seduction. ;) Reducing shifts and employ the same Person and them marginally lower. By reducing the hourly rate. By employee cheap labour. of new employee who charge less than others and trained them accurately. PART TWO Question 2 You are the accountant for Bellyful Restaurant. Following are assumptions about sales for the coming month Bellyful Restaurant offers three basic meals: noodle bowls, egg rolls, and rice bowls. Each meal can be prepared with several different meats or with vegetables only. Costs and prices are similar for all varieties of each meal. Prices for noodles bowls are $4 each, egg rolls are $3 each, and rice bowls are $3.50 each. Estimated sales for the next month are 200 noodle bowls, 100 egg roll meals, and 500 rice bowls per day. PART 1: Revenues budget Required: (a) Prepare a revenue budget for the next month assuming it is 30 days long. (3 marks) (b) Discuss two (2) factors that affect the budgeted volumes of meals. (2 marks) PART 2: Direct materials budget The owner of Bellyful Restaurant studied the cost of direct materials for each type of meal. He estimates that noodle bowls use about $1 in direct materials, egg rolls use about $0.75, and rice bowls use about $0.90. Food is purchased daily to ensure high quality. Beginning and ending inventory amounts are minimal. Required: (a) Prepare a direct materials usage budget and a direct materials purchases budget. (4 marks) (b) Discuss reasons why actual costs might be different from budgeted costs in part(b). (2 marks) (C) Suppose the prices of food ingredients increase. Identify possible ways the owner could keep food costs within the budget. Discuss drawbacks for each of your ideas. (2 marks) PART 3: Direct labour budget The owner of Bellyful Restaurant employs cooks and cashiers. The cashiers take orders and collect payment, transfer food from the cooks to customers, and clean tables. Cooks are paid $10 per hour, and cashiers are paid $8 per hour. Bellyful Restaurant operates four shifts: 10 to 2 11 to 2, 2 to 10, and 5 to 8. Weekdays and weekends are staffed similarly. Following are the shifts and required workers. Cooks Cashiers 2 Shift 10 am to 2 pm 11 am to 2 pm 2 pm to 10 pm 5 pm to 8 pm 2 3 3 2 N 3 Required: (a) Prepare a labour budget showing hours and costs for a month. (Assume 30 days per month.) (4 marks) (b) Discuss reasons why actual labour costs might turn out to be different from budgeted costs in part (a). (2 marks) (c) Identify possible ways the owner could reduce labour costs. Discuss possible drawbacks for each of your ideas. (2 marks) PART 4: Overhead budget Bellyful Restaurant does not separately account for production versus general overhead. Fixed overhead includes production overhead as well as support services and general administration. Variable overhead includes labour-related costs such as payroll taxes and employee benefits. Bellyful Restaurant has estimated variable overhead costs as $2.50 per direct labour hour. Following are the estimated fixed overhead costs for one month: Fored overhead costs: Utilities Manager Lease Miscellaneous Total $ 1300 5000 2000 2500 $10 800 Required: (a) Prepare an overhead costs budget for one month. (3 marks) 3 identify possible ways the owner could reduce overhead costs. Discuss possible drawbacks for each of your ideas. (2 marks) PART 5: Budgeted statement of profit or loss Refer to the information from the preceding budgets. The income statement for Bellyful Restaurant consists of revenues less direct costs (direct materials and direct labour) to determine the gross margin. Then the overhead costs are deducted to determine operating income. Required: (a) Prepare a budgeted income statement ignoring income taxes. (4 marks) (b) Bellyful Restaurant's owner would like to increase profits from the store. Suggest several possible ways to accomplish this goal. Explain your reasoning. (2 marks) [End] Answer 1 of 1 Done The concept hasbeen explained in details in image attached please share you valuable inputs. thanks. page-1 Solution:- As per the data - The owner of Belly feel restaurant employs cooks and cashiesis... labore Badget shift Heus cools cashies Hously Budget Butyded Per hos hes (HR) cashies Cooks ashes tools cases tom 4 2 2 10 S 16 80 125 Cooks 8 2P to 2p 3 3 3 10 9 2490 142 $ 2 2 10 $ 16 2 10 pm po to BA 16 160 128 3 3 3 10 8 9 249192 2 30 420 640 Budget Total Anes cast Pex Mouth 1260 2400 12.00 19.000 cost Page 2 be there could be multiple reason budget cost or hour different from actual, Budgeted CA are as per past experience but actual working is different. Here these are so many shift available that is the main reason actual varies from budgeted. c) Possible ways of seduction. ;) Reducing shifts and employ the same Person and them marginally lower. By reducing the hourly rate. By employee cheap labour. of new employee who charge less than others and trained them accurately