1.To determine if a business is successful, you must look at costs, revenues and profits. Some may...
Question:
-Calculate the Revenue
-Determine what the costs are (which ones are variable or fixed)
-Calculate the total of the variable costs
-Calculate the total of the fixed costs
-What is the total of all costs?
-Determine is you have any depreciation. If yes, dont forget to calculate the allocation cost so you canadd it to the B.O sheet. TIP: Make sure you know that the equation usually gives you an amount for allocation for one year, you have to divide it into months and include it on the FEB B.O sheet.
-What is the profit?
-In your opinion, are there any costs or expenses that can be reduced? Can the revenue be higher if they were to change something? If so, what?
-After gathering all this information, using the next page, draft an operating budget sheet for the month of February2021.
Management A Practical Introduction
ISBN: 978-0078112713
5th edition
Authors: Angelo Kinicki, Brian Williams