Business, 21.12.2021 08:00 shartman22

Question The London Docks Caféth

Planning and actual budgets for the month ended September 30, 2020

PLANNING ACTUAL

Budgeted meals quantity (q) 20 000 18 000

Revenues (£5.00q) £100 000 £90 000

Expenses:

Raw material (£2.50q) 50 000 45 000

Wages and salaries (£5 500+£0.25q) 10 500 10 000

Utilities (£2 500 + £0.05q) 3 500 3 400

Facility rent 5 000 5 500

Insurance 2 800 3 200

Fuel 2 500 2 800

Net Operating Income £25 700 £20 100

Required:

a) Outline the objectives of budgeting and explain how London Docks Café benefits from engaging in robust budgetary processes? (15 marks)

b) Report showing London Docks Cafe's revenue and spending variance for September? (20 marks)

c) Based on the variances report you prepared in (b) above, which area/s of

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Question The London Docks Caféth

Planning and actual budgets for the month ended Septe...

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