Question: Question 3: Based on the following assumptions prepare a 3rd spreadsheet with the actual trading activities for the 1st quarter next year. ASSUME THAT DURING

Question 3: Based on the following assumptions prepare a 3rd spreadsheet

with the actual trading activities for the 1st quarter next year. ASSUME

Question 3: Based on the following assumptions prepare a 3rd spreadsheet with the actual trading activities for the 1st quarter next year. ASSUME THAT DURING THE 1ST QUARTER OF NEXT YEAR: Food revenue was 20% higher than the budget forecasted . Food Cost was 30% higher than the budget forecasted . Beverage sales was 15,000 units Utilities Expense was $3,000 Wages expense $20,000 . Rent expense was $6,500 You are required to monitor the trading activities for Simpsons Pty Ltd for the first quarter of next year and identify and record in an additional column all dollar ($) variances from the forecasted budget

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

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...

Based on the following assumptions prepare a 3rd spreadsheet with the actual trading activities for the 1st quarter next year. ASSUME THAT DURING THE 1ST QUARTER OF NEXT YEAR: Food revenue was 20%...

Each gallon of window cleaner requires 124 ounces of AM972 and 27 ounces of CA38. An ounce of AM972 costs Vaughn $0.14. An ounce of CA38 costs the company $0.24. Vaughn's inventory policy requires...

i need help with filling out the rest of the chart on chapter 5 number 5 please. Marigold Chemicals has developed a new window cleaner that requires two ingredients, AM972 and CA38, Based on...

Mackenzie Chemicals has developed a new window cleaner that requires the ingredient AM972. Based on forecasted sales, Mackenzie has developed the following budgeted production for the coming year....

Activity Based Costing (ABC) Background Information: Nick's Woodworking Inc. began operations in 2023 as a manufacturer of picnic tables with attached benches. During its first decade of operations,...

I need help solving my accounting project. i did 4-7 workbook which i have attached below. but 7-10 are incorrect. could someone help me correct from 7-10 quickly please. MI5965 I SEE THE LIGHT...

Bright World LLC (BW) distributes sunglasses to small retail stores in the Midwest part of the United States. BW does not manufacture the sunglasses, but instead buys the sunglasses from foreign...

Attached is a project I'm working on and I'm stuck at a crucial point. I need help figuring out what the Planned sales, Desired ending inventory of finished goods as well as the Beginning inventory...

A firm has set a price of $100 with a per unit cost of $80. If this is a profit-maximizing price, what is the firms price elasticity of demand? A.-5.0. B.-4.0. C.-2.5. D.-2.00. E.-1.5.

In the 1986 disaster at the Chernobyl reactor in the Soviet Union (now Ukraine), about 18 of the 137Cs present in the reactor was released. The isotope 137Cs has a half-life for decay of 30.07 y and...

Place yourself in the position of Polar Skate Co . , a Swedish clothing manufacturer and if you agree to ship sweaters to Britain and are willing to accept 5 0 0 , 0 0 0 , 0 0 0 in payment from the...

This week you saw art made at a time when the country was going through change because of the Great Depression, war, and its aftermath. Choose an image you personally related to, research it online,...

3. Imagine a real event that brought joy to your past. What images, sounds, emo-tions, smells and tastes appear? Try to imagine a movie clip of this incident, as it could unfold if the circumstances...

7. Imagine yourself in a future situation that you know you do not thrive in. Try to bring with you that feeling of satisfaction from task 6 in the future uncomfortable situation. a. Highlight three...

1. Maintain my own perspective and my opinions