Prepare a performance report for the dining room of Leonardo’s Italian Cafe ́ for the month of February 2011, using the following data: Budgeted Data: January February Dining room wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,300 $4,150 Laundry and housekeeping . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,650 1,500 Utilities ............................................... 2,200 2,050 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500 1,500
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Performance report
Prepare a performance report for the dining room of Leonardo’s
Italian Cafe ́ for the month of February 2011, using the following
data:
Budgeted Data: January February
Dining room wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,300 $4,150
Laundry and housekeeping . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,650 1,500
Utilities ............................................... 2,200 2,050
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500 1,500
Actual Data: January February
Dining room wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,700 $4,400
Laundry and housekeeping . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,600 1,400
Utilities ............................................... 2,350 2,100
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500 1,500
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
