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Financial Statement: Budget Analysis and Variances

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Calculating monthly or annual budget...
Financial Statement: Budget Analysis and Variances Calculating monthly or annual budget variances helps to determine differences between budgeted figures and actual figures. This, in turn, serves as a reference point for future budget development and financial decision making.The following table represents the actual numbers to be used for the current month's analysis. All other costs are equal to their budgeted percentages of total sales.Actual Sales
$53,000Food Cost
$19,985Wages Expense
$16,260Rent
$1,850Administrative Expenses
$2,500Utilities
$2,925Repairs and Maintenance
$1,545Using W5_A1_lastname_firstname.xls and the information provided in the table given above, regarding the actual numbers, calculate variances for the current month's business.Now save and name this Excel document as W5_A2_lastname_firstname.xls.In a Microsoft Word document, analyze and explain whether the variances you calculated are favorable or unfavorable for The Green Restaurant. Also analyze the possible causes of the calculated variances and describe possible solutions to these variances.In your analysis document, analyze the impact these variances have on net income and next year's budget development.Save this document as W5_A2_lastname_firstname.doc.Below is the exact Statement that was provided....Income Statement
The Green Restaurant
Period ended Decemeber 31, 20xx
Forecasted Actual Amount VarianceF/U
Food Revenue $47,500 $64,500 $53,000 -$11,500 U
Expenses:
Cost of Food sales 34.56% $16,415 $22,290 $19,985 -$2,305 U
Wages Expense 25.02% $11,885 $16,139 $16,260 $121 U
Supplies Expense 0.74% $350
Utilities 2.53% $1,200
Advertising 0.63% $300
Depreciation Expense 0.34% $160
Rent Expense 1.63% $775
Interest Expense 0.25% $120
Laundry Expense 1.18% $560
Kitchen Fuel 0.32% $150
Radio Advertising 2.53% $1,200
Administrative Expense 4.63% $2,200
Repairs and Manintenance 1.26% $600
Total Expenses 75.61% $35,915.00
Net Income: 24.39% $11,585.00
Submitted: 11 months ago.Category: Single Problem
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Customer reply replied 11 months ago
Assignment 2 Grading Criteria
Maximum Points
Calculated variances for the current month based on the given instructions and resources.
10
Analyzed and explained whether the calculated variances are favorable or unfavorable for The Green Restaurant.
10
Analyzed the possible causes of the calculated variances and described the possible solutions to these variances.
10
Analyzed the impact of variance on the net income and next year's budget development.
10
Followed MLA standards for citing sources.
5
Total:
45
Customer reply replied 11 months ago
Here is W5_A1, just in case
Answered in 12 hours by:
9/18/2017
Business Tutor: F. Naz, B.Com replied 11 months ago
F. Naz
F. Naz, B.Com
Category: Single Problem
Satisfied Customers: 5,491
Experience: Have completed B.Com and CA Finalist
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What is your deadline and length of written answer and will you be bale to cite my work in your final assignment submission.

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Customer reply replied 11 months ago
I need the answer today.
Customer reply replied 11 months ago
There is no specific length of the paper, as long as the questions are answered correctly. I will cite the paper, no worries there.
Customer reply replied 11 months ago
I need both the excel spreadsheet and the paper.
Business Tutor: F. Naz, B.Com replied 11 months ago

Please accept the offer so the answer may be provided in next 24 hours, thanks.

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Customer reply replied 11 months ago
Thank you for your time, but I have already paid over $50
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