Calculate the total rooms for each month

Reference no: EM133040614

SITXFIN003 Manage finances within a budget - Duke College

Assessment

Case study and Project

Your Task:

Task 1: Case Study Analysis

Top of the Town Hotel has asked you to calculate the variance for the following figures for the month of July 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.

The Hotel owners and managers would like to know from you the major areas of concern where there is a deviation that needs further monitoring and improvement.

PART B
Answer the following questions.

Questions:
1. Explain the importance to the owners of monitoring budgets and why do you think it will help them to manage their finances better for the business.

2. Explain to them the use of analysing the monthly budget and comparing the forecasted budget against the actual budgets.

3. Explain your findings and possible reasons for these variances.

4. Research and suggest what improvements do you think the owners can take to improve this situation?

Task 2 - Variance Analysis Note

You have been provided with the projected data sheet for reference in the Task 2 Spread sheet.

In this task you are provided with an excel file with 2 spread sheets
(Budgeted Rooms Revenue Sheet, Actual Rooms Revenue sheet) with the actual figures on the rooms for a given quarter. You are required to calculate the actual revenue that has been generated for each month in the given quarter based on the actual occupancy rate.

Calculate the following details using the appropriate sheet as per the given instructions Budgeted Rooms Revenue Sheet
In this sheet first calculate the total projected/forecasted revenue per room type for all 365 days.
Budgeted Rooms Revenue Sheet

• You are also required to calculate total projected/forecasted revenue per room type for each month for Jan, Feb and Mar.
• Calculate the total rooms for each month -
• Calculate the Total Revenue for all room types for each month -
• Calculate the total projected revenue for 3 months (Jan, Feb and Mar) -

Actual Rooms Revenue Sheet

In this sheet you are provided with the Actual occupancy for each month.
• Calculate the Revenue per room type for each month (Jan, Feb and Mar)

• Calculate the total rooms for each month -

• Calculate the Total Revenue for all room types for each month -

• Calculate the total revenue per room for 3 months (Jan, Feb and Mar) -

Attachment:- Manage finances within a budget.rar

Reference no: EM133040614

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