Prepare a Budget worksheet using the following data: Projected sales P 3,200,000 Food and Beverage Cost 35% of sales Monthly rental P 170,000 Fixed Payroll P 450,000 Payroll for on call/extra staff P 150,000 Utilities (Light, water, gas) P 120,000 Repair and maintenance P 32,000 Administrative/general expenses P 200,000 (Covers transportation, communications, licenses, taxes, office supplies) Management Fees (for top management consultation P 120,000 Amortization to be computed based on a pre operating capital that amounted to P5,200,000 with 5 years recovery period. Depreciation cost to be computed. The cost of kitchen and dining equipment to be after replaced costs P2,000,000 and the recovery is 2 years. Use the budget template for your answer: Budget worksheet for Problem 1. amount Cost ratio TOTAL SALES P 3,200,000 BUDGET DISTRIBUTION 1. COST OF SALES (FOOD/BEVERAGE) 1,120,000 35% 2. MONTHLY RENTAL P 170,000 5 3. SUPPLIES AND MATERIALS 4. PAYROLL AND OTHER RELATED EXPENSES 600,000 19 A. FIXED PAYROLL-REGULAR STAFF B. VARIABLE PAYROLL-EXTRAS/ONCALL 5. UTILITIES P 120,000 4 6. REPAIR AND MAINTENANCE P 32,000 7. ADMINISTRATIVE EXPENSES P 200,000 6 8. MANAGEMENT FEES P 120,000 9. AMORTIZATION OF CAPITAL 10. DEPRECIATION TOTAL EXPENSES