Question 2A manager is preparing a revenue budget for next month. The following is the manager's currentmonth actual operating results.ACTUAL OPERATING RESULTS CURRENT MONTHNumber of GuestsRevenue SourceAverage Sale perSalesGuestRestaurant3492$20.50$71,586Lounge515$12.00$ 6,180Banquet room388$28.50$11,0584395$20.21$88,824TotalCreate the revenue forecast for next month based on the following assumptions.A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00.B. Lounge guests to be served are estimated at 525 with a 10 percent increase in averagesale per guest.C. The banquet room will serve 425 customers and generate $12,750 in sales.

Revenue Forecast For may 2021 Revenue Source No. of…

Question 2 A manager is preparing a revenue budget for next month. The following is the manager's currer month actual operating results. ACTUAL OPERATING RESULTS CURRENT MONTH Number of Guests Revenue Source Average Sale per Sales Guest Restaurant 3492 $20.50 $71,586 Lounge 515 $12.00 $ 6,180 Banquet roomn 388 $28.50 $11,058 Total 4395 $20.21 $88,824 Create the revenue forecast for next month based on the following assumptions. A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. ated at 525 with a 10 percent increase in average

Question 2 A manager is preparing a revenue budget for next month. The following is the manager's currer month actual operating results. ACTUAL OPERATING RESULTS CURRENT MONTH Number of Guests Revenue Source Average Sale per Sales Guest Restaurant 3492 $20.50 $71,586 Lounge 515 $12.00 $ 6,180 Banquet roomn 388 $28.50 $11,058 Total 4395 $20.21 $88,824 Create the revenue forecast for next month based on the following assumptions. A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. ated at 525 with a 10 percent increase in average

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 1PB

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Assignment Four A manager is preparing a revenue budget for next month. The following is the manager's current month actual operating results. ACTUAL OPERATING RESULTS CURRENT MONTH Revenue Source Number of Guests Restaurant Lounge Banquet room Total NEXT MONTH BUDGET Revenue Source 3492 515 388 4395 Restaurant Lounge Banquet room Total Average Sale per Guest Number of Guests $20.50 $12.00 $28.50 $20.21 Create the revenue forecast for next month based on the following assumptions. A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. B. Lounge guests to be served are estimated at 525 with a 10 percent increase in average sale per guest. C. The banquet room will serve 425 customers and generate $12,750 in sales. Sales Average Sale per Guest $71,586 $6,180 $11,058 $88,824 Sales 1. What will be the manager's revenue forecast for next month? 2. What will be the manager's average sale per guest forecast for next month? 3. What is the overall percentage increase…
Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1Quarter 2Sales$248,470$251,539Direct material purchases120,295128,832Direct labor76,55374,289Manufacturing overhead26,00024,400Selling and administration expenses33,50033,500Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers230,524220,116Cash payments for purchases114,345118,346 Additional data:Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. Required: a) Use this information to prepare a cash budget for the first two quarters of the year. bi) Briefly comment on Picta Company’s expected cashflow position in the first two quarters of the year.
Saudi Agricultural Company, engaged in manufacturing bricks and other relevant items and most of the transaction accomplished in 'Cash' only. The company is giving following transactions for the year 2020, you are required to prepare 'CASH BUDGET' for three months from February to April. Following are company policies for paying and receiving Cash: 1. 20% Sales is for cash and the remaining amount is realized in the month following that of sales. Suppliers Supply raw materials at one month's credi 3. Wage-bill is paid in first week of next month. 4. Overheads are paid in cash in the same month. 5. Monthly rent payment is ` 1,000. 6. Advance Income Tax of ` 15,000 is payable in April. 7. Bonus of ` 10,000 is payable to workers in February. 8. Plant Costing 80,000 is due to be installed in February. The part of the bill will be paid in March amounting to ` 18,500. 9. Half year interest on 12% ` 50,000 Debentures is to be received in February and August every year. 10. Cash at Bank on 1st…
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Given below the 2PM’s Hairstyling information for the month ended June 30: a) Revenue and cost formula Budgeted client-visits q Revenue RM180q Wages and salaries RM65,000 + RM37q Hairstyling supplies RM1.50q Client gratuities RM4.10q Electricity RM1500 + RM0.10q Rent RM28,500 Liability insurance RM2,800 Employee health insurance RM21,300 Miscellaneous RM1,200 + RM0.20q b) The budgeted client-visits were 1,000. c) Income statement for the month ended June 30: 2PM’s Hairstyling Income Statement For the month ended June 30 Actual client-visits 1100 RM Revenue 194,200 Expenses: Wages and salaries 106,900 Hairstyling supplies 1,620 Client gratuities 6,870 Electricity 1,550 Rent 28,500 Employee health insurance 22,600…
52 APPLICATION EXERCISE A manager is preparing a revenue budget for next month. The following is the manager's current month actual oper- ating results. I ACTUAL OPERATING RESULTS CURRENT MONTH Revenue Source Restaurant Lounge Banquet room Total Number of Guests 3,492 388 4,395 Average Sale per Guest $ 20.50 12.00 28.50 $20.21 Create the revenue forecast for next month based on the following assumptions: 49 Sales $ 71,586 6,180 11,058 $88,824 A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. 124 B. Lounge guests to be served are estimated at 525 with a 10 percent increase in average sale per guest. C. The banquet room will serve 425 customers and generate $12.750 in sales. NEXT MONTH BUDGET Revenue Source Restaurant Lounge Banquet room Total Number of Guests Review Your Leaming Average Sale per Guest Q A 1. What will be the manager's revenue forecast for next month? 3. What is the overall percentage increase in the revenue forecast when compared to the…
Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration expenses 33,500 33,500 Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346 Additional data: Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. Required: a) Use this information to prepare a cash budget for the first two quarters of the year. i) Briefly comment on Picta Company’s expected cashflow position in the first two quarters of the year.
Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration expenses 33,500 33,500 Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346 Additional data: Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. a) Use this information to prepare a cash budget for the first two quarters of the year. bi) Briefly comment on Picta Company’s…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per Car Washed $ 0.70 $ 0.09 $ 0.20 $ 0.30 per Month Cleaning supplies Electricity $ 1,400 Maintenance $ 4,500 $ 8,100 $ 2,100 $ 1,400 Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs are $1,400 per month plus $0.09 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.30 per car washed.
Exam Business XYZ has the following projected budget and actual budget for a given month: Budget Actual $25,000 25,575 Рayroll Inventory 12,500 11,900 Rent 7,500 7,600 Services 5,000 5,200 Calculate the percent change that the total of all categories is over budget. [?]% Give your answer as a percent rounded to the nearest tenth. Enter Copyright 2003 - 2021 Acellus Corporation. All Rights Reserved.
Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 80 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Cost per Cruise $ 477.00 Cost per Passenger Fixed Cost per Month $ 6,000 $ 2,500 $ 5,300 $ 3,300 $ 3.00 Vessel operating costs Advertising Administrative costs $ 31.00 $ 1.50 Insurance For example, vessel operating costs should be $6,000 per month plus $477.00 per cruise plus $3.00 per passenger. The company's sales should average $31.00 per passenger. In July, the company provided 52 cruises for a total of 3,200 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible…
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