Part B - Written Assessment This section has 2 Tasks. You are required to complete both tasks. *IMPORTANT NOTE: SPREADSHEETS MUST BE PREPARED USING MICROSOFT EXCEL SCENARIO Simpsons Pty Ltd is a small take away restaurant located in Sydney CBD. The restaurant is owned by Mr & Mrs John Spice. The restaurant started its activities in January current year. In December current year the following information was collected: SALES AND COGS ACTIVITIES FOR CURRENT YEAR The restaurant sold 54,600 take away meals, and the price per meal was $10.50. The food cost per meal sold was $4.60. Also 20,000 units of soft drinks were sold during the year. Soft drinks are sold for $2.50 and the cost price was $0.80. BUDGET FORECASTING FOR NEXT YEAR The owners estimated that for the next year the price per take away meal could be increased to $13.00. They have also predicted that sales (in units) would be increased by 10% in next year. The owners have entered into a monthly Contract with the soft drinks supplier. According to the Contract the restaurant must purchase a minimum of 2,000 units of soft drinks per month and the cost price will be reduced to $0.50 per unit. The restaurant owners decided to reduce the selling price of soft drinks to $1.50 in order to increase sales (in units) by 50% and are expecting to meet the required selling demand. The owners have anticipated the following expenses for next year: ANTICIPATED YEARLY EXPENSES FOR NEXT YEAR Cost of Goods Sold (food + beverage) $291,276 Rent $ 24,000 Utilities $ 10,000 Wages $ 60,000 Miscellaneous $ 6,000