Question: Dream Resort is located on Lantau Island, which features two sister hotels and a number of leisure facilities. A summary of the major services, facilities
Dream Resort is located on Lantau Island, which features two sister hotels and a number of leisure facilities. A summary of the major services, facilities and catering outlets available in the hotels are attached on page 8 and page 9 respectively. You, as a management trainee in the Accounting Department of the resort, are recently instructed to assist different operation departments in reviewing the financial data obtained, sharing basic accounting knowledge and offering suggestions to improve the financial performance of the department in the coming financial year. Question 1 A. Below is the data obtained from Sky Lounge in March 2022 for conducting revenue variance analysis: Actual Budget No. of Covers 8,835 9,120 Average Check $279 $255 Conduct the following variance analysis and evaluate the results. Show the steps in your calculation. -Price variance - Volume variance - Total variance (2 marks) (2 marks) (2 marks) B. List any two (2) categories of comparisons that can be made on evaluating the average check which Sky Lounge achieved and explain each with an example to the Manager of Sky Lounge. (6 marks)
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