The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the information above and the table below to solve the questions. Meals (# of units) Price/unit Total Revenue Budget 3,000 $5.5 ? Actual 3,200 ? $18,400 5. What was the actual price per unit ($)?
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.
Assume that your hotel has a restaurant.
- The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50.
- The actual sales were 3,200 meals and food revenue of $18,400.
- Use the information above and the table below to solve the questions.
|
Meals (# of units) |
Price/unit |
Total Revenue |
|
|
Budget |
3,000 |
$5.5 |
? |
|
Actual |
3,200 |
? |
$18,400 |
5. What was the actual price per unit ($)?
Note: Do not include $ or commas when you type your answer. Type your answer with two decimal places (e.g., 4.65).
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