NSW 2 NSW 2 Part 3: Scenario Task 2: Budget performance report To complete this part of the assessment, read the scenario and complete the following task/s. Prepare a report, based on the variance report you created in Task 1, showing the budget performance of Thredbo Snow and Ski (TSS). Your report must be completed using the template Scenario: Thredbo Snow and Ski below. This report would be distributed to the management team at TSS. Your report should be Thredbo Snow and Ski (TSS), a client of Azure Beach Accountants and Financial Services (ABAFS), sells between 180-220 words. a range of Snow and Ski related products. They have 4 categories of products, they are: Table 10 - Budget performance report Thredbo Snow and Ski Snow Jackets Budget Performance Report Thredbo Snow and Ski 20X3 Snow pants Skis (Provide some basic information on what the report is about and what the business is other (includes goggles, mittens, socks, sunscreen, and the like). about You have been provided with the following table, which shows the forecast for total sales for 20X3 Introduction and the percentage of sales expected in each season. Table 9 -Forecast of total sales Product Total Sales $ Summer Autumn Winter Spring (Describe how the budget forecasts have been allocated across products and seasons). Category Forecast) 96 196 Budget Snow Jackets 885,500 LO 53 12 forecasts Snow pants 965,000 12 27 45 16 Skis 175,500 20 28 32 20 (Identify the variances that would be of most concern to the management of TSS and briefly explain why). Other 85,000 9 35 45 11 TOTAL 2,111,00 Variances Task 1: Variance report TSS require the budget to be broken down by season. Open the Excel spreadsheet called FNSACC412 AE Sk2of3 Appx BudgetTemplates.xlax. and open the worksheet called 'Thredbo Snow Outline the next steps the management of TSS might take once they have analysed and Ski. You will find a partially completed budget template with actual sales figures included. Using the variance report prepared in Task 1). the above information and the spreadsheet: Calculate the forecast sales for each product for each season for 20X3. Follow up Calculate the dollar variance for each product for each season. actions Calculate the percentage variance for each product for each season Indicate if the variance is favourable or unfavourableBudget Performance Report for Thredbo Snow and Ski for 20X3 Product TOTAL All Seasons SUMMER AUTUMN WINTER SPRING Sales $ Variance % Fav/Unf Sales $ Actual Variance $ | Variance % Fav/Unf Sales $ Actual Sales $ Actual Sales $ Actual Actual Sales $ | Variance $ Forecast Sales $ Forecast Sales $ Variance $ Variance Fav/Unf Variance | Variance Fav/Unf Forecast Forecast Sales S % Forecast Sales $ Variance $ | Variance % | Fav/Unf Snow Jackets $885,500 $837,068 $80,541 $210,701 $335,125 $210,701 Snow Pants $965,000 $953,424 $175,621 $234,478 $308,847 $234,478 Skis $175,500 $147,635 $33,858 $31,176 $51,425 $31,176 Other $85,000 $108,020 $10,147 $25,321 $47,231 $25,321 TOTAL $2,111,000 $2,046,147 $300,167 $501,676 $742,628 $501,676