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BSBFIM601 Appendix E Budget Template

The document shows quarterly budgets and actuals for sales, expenses, and profits for Liberty Melbourne for Year Y3. Total sales were under budget by 14% for Q1 due to lower than expected restaurant food, beverage, and catering sales. While food costs and some expenses like rent were over budget, the business still achieved a net profit that was 30% higher than the Q1 budget.

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222 views5 pages

BSBFIM601 Appendix E Budget Template

The document shows quarterly budgets and actuals for sales, expenses, and profits for Liberty Melbourne for Year Y3. Total sales were under budget by 14% for Q1 due to lower than expected restaurant food, beverage, and catering sales. While food costs and some expenses like rent were over budget, the business still achieved a net profit that was 30% higher than the Q1 budget.

Uploaded by

kanej
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Profit and Loss – Liberty Melbourne

Current Year Budget Q1 Budget Q2 Budget Q3 Budget


( Year 3) (Year Y) (Year Y) (Year Y)

Sales 20 25 30

Restaurant beverage sales 85600.24 77,818.40 107,000.30 111,280.31


Restaurant food sales 155664 129,720.00 194,580.00 202,363.20
Catering sales 53640.6 46,644.00 67,050.75 69,732.78
Total Sales $294,904.84 $254,182.40 $368,631.05 $383,376.29

Operating Expenses

Food and beverage cost (direct cost of sales) 167961.3368 110,244.24 209,951.67 218,349.74

Advertising 14029.105 5,853.50 17,536.38 18,237.84


Bank Service Charges 265.225 257.50 331.53 344.79
Credit Card Fees 265.225 257.50 331.53 344.79
Insurances 6365.4 6,180.00 7,956.75 8,275.02
Payroll 64234.84275 62,363.93 80,293.55 83,505.30
Professional Fees 1392.43125 1,351.88 1,740.54 1,810.16
Rent or Lease 27820.8 15,360.00 34,776.00 36,167.04
Hospitality Supplies 4010.202 3,893.40 5,012.75 5,213.26
Licenses 1697.44 1,648.00 2,121.80 2,206.67
Utilities and Telephone 3246.354 3,151.80 4,057.94 4,220.26
Equipment Leases 4774.05 4,635.00 5,967.56 6,206.27
Maintenance 755.89125 733.88 944.86 982.66
Licences (incl. IT software) 6400 9,600.00 12,800.00 8,320.00
Total Operating Expenses $303,218.30 $225,530.62 $383,822.88 $394,183.79

Net Profit Before Tax (EBIT) -$8,313.46 $28,651.79 -$15,191.83 -$10,807.50


Corporate Taxes -$10,641.23 $36,674.28 -$19,445.54 -$13,833.60
Net Profit (or Net Income) $2,327.77 -$8,022.50 $4,253.71 $3,026.10
ourne
Q4 Budget
(Year Y)

25

107,000.30
194,580.00
67,050.75
$368,631.05

209,951.67

17,536.38
331.53
331.53
7,956.75
80,293.55
1,740.54
34,776.00
5,012.75
2,121.80
4,057.94
5,967.56
944.86
8,000.00
$379,022.88

-$10,391.83
-$13,301.54
$2,909.71
Budget Variance Report – Liberty Melbour
Q1 Budget Q1 Actual Q1 Variance Q1 Variance %
(Year Y3) (Year Y3) (Year Y3)

Sales
Restaurant beverage sales 85,600 77,818 - 7,782 -9%

Restaurant food sales 155,664 129,720 - 25,944 -17%


Catering sales 53,641 46,644 - 6,997 -13%
Total Sales 294,905 254,182 - 40,722 -14%
Operating Expenses

Food and beverage cost (direct 67,961 110,244 42,283 62%


cost of sales)
Advertising 14,029 5,854 - 8,176 -58%
Bank Service Charges 265 258 - 8 -3%
Credit Card Fees 265 258 - 8 -3%
Insurances 6,365 6,180 - 185 -3%
Payroll 64,235 62,364 - 1,871 -3%
Professional Fees 1,392 1,352 - 41 -3%
Rent or Lease 27,821 15,360 - 12,461 -45%
Hospitality Supplies 4,010 3,893 - 117 -3%
Licenses 1,697 1,648 - 49 -3%
Utilities and Telephone 3,246 3,152 - 95 -3%
Equipment Leases 4,774 4,635 - 139 -3%
Maintenance 756 734 - 22 -3%
<Ener new line items here> 6,400 - - 6,400 -100%

Total Operating Expenses 253,218 215,931 - 37,288 -15%

Net Profit Before Tax (EBIT) 51,252 22,155 - 46,711 -91%

Corporate Taxes 53,359 10,902 - 42,457 -80%

Net Profit (or Net Income) 2,328 - 8,022 4,254 30%


Melbourne
Assessment

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