TASK 1 - Budget Variance Calculations Case Study Analysis on Budget Variance Top of the Town Hotel has asked you to calculate the variance for the following figures for the month ofjuly and August. Also calculate the total profit that was budgeted and actual. Analyse the findings and inform them about the variance as they are concerned and would like to monitor the income, expenditure, profit levels, budgetary performance of their Food and Beverage Department. Item July August September Budget Actual Variance Budget Actual Variance Budget Actual Variance Sales Revenue 230,000 225,000 230.000 228,000 230,000 221000 Food Costs 85,000 87,000 85,000 86,000 85,000 85000 Be verage Costs 14,000 15,000 15,000 15,000 15,000 16000 Labour Costs 77,000 82,000 78,000 82,000 78,000 86000 Fixed Costs 35,000 35,000 35,000 35,000 35,000 36000 Total Costs Profit