Project #91260 - FINANCE IN THE HOSPITALITY 3

FINANCE IN THE HOSPITALITY INDUSTRY

 

DEFINE, COMPARE, EXPLAIN, DISCUS ADVANTAGES & DISADVANTAGES, AND ANALYSE WITH DIAGRAMS. TABLE OF CONTENTS, ASNWERS TO BE NUMBERED AS IT IS IN THE QUESTION TASK ONE IS REPORT ESSAY TASK TWO IS REPORT ESSAY

 

NOTES:

1.      TABLE OF CONTENTS

2.      GOOD INTRODUCTION

3.      EXCELLENT BODY REPORT WITH DIAGRAMS

4.      GOOD CONCLUSION

5.      REFERENCES

 

ALSO NOTE THAT ALL QUESTIONS MUST BE ANSWERED AND EXPLAIN, DEFINE AND DISCUSS, ACCESS AND EVALUATE ALL QUESTIONS WHERE NECESSARY AND WITH DIAGRAMS WHERE NECESSARY.

…………………………………………………………………………………………………………………..

 

 

 

 

 

 

 

Task 3

AC3.3 Define budgetary control, explain budgetary circle and discuss the process and purpose of budgetary control (with Diagram)

AC3.4 analyse 5 variances from budgeted and actual figures, offering suggestions for appropriate future management action

 

 

 

 

 

 

 

Yuri, a cutlery manufacturer, produces spoons. The market in which the business operates is highly competitive, as there is a shortage of steel of adequate quality. There is a good availability of labour, but not of those who are experienced in cutlery manufacture. The budgeted and actual figures for the previous period are represented in the tables below

 

                                               Budget                  Actual                      Variance

Units sold                              100,000                  75,000                       (25,000)

Materials                              £ 15,000                   22,500                        (7,500)

Direct labour                        £ 22,500                   24,375                        (1,875)

 

 

 

                                                  Material (£)         Labour (£)

Price/rate variance                        (4,500)                  3,750

Usage/efficiency  variance            (3,000)                 (5,625)

Total variance                                 (7,500)                    (1,875)

 

 

Required:

AC3.3 Define budgetary control, explain budgetary circle and  discuss the process and purpose of budgetary control(with Diagram)

AC3.4 analyse 5 variances from budgeted and actual figures, offering suggestions for appropriate future management action

 

 

 

 

 

 

 

 

 

 

 

 

 

Subject Business
Due By (Pacific Time) 11/05/2015 12:00 am
Report DMCA
TutorRating
pallavi

Chat Now!

out of 1971 reviews
More..
amosmm

Chat Now!

out of 766 reviews
More..
PhyzKyd

Chat Now!

out of 1164 reviews
More..
rajdeep77

Chat Now!

out of 721 reviews
More..
sctys

Chat Now!

out of 1600 reviews
More..
sharadgreen

Chat Now!

out of 770 reviews
More..
topnotcher

Chat Now!

out of 766 reviews
More..
XXXIAO

Chat Now!

out of 680 reviews
More..
All Rights Reserved. Copyright by AceMyHW.com - Copyright Policy