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
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.
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