For assessment task 2 I just need answer for question number 1 & 3 For assessment Task 3 I just need answer for question number 1 & 2 Note: I attach the excel file because you need to answer t

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For assessment task 2 I just need answer for question number 1 & 3

For assessment Task 3 I just need answer for question number 1 & 2

Note: I attach the excel file because you need to answer the question according the excel file.

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For assessment task 2 I just need answer for question number 1 & 3 For assessment Task 3 I just need answer for question number 1 & 2 Note: I attach the excel file because you need to answer t
Assessment Task 2 Manage Finances Within a Budget & Develop and Use Complex Spreadsheets Scenario The Top of the Town Bar & Restaurant is a high-end restaurant with 210 seating capacity. It opens for lunch and dinner seven days a week. The owner, Sam, develops a quarterly operational budget for the business based on previous budgets and anticipated business. This is done in consultation with the operations manager (that is you). Sam provided you the following budget information from previous (Apr – Jun) quarter. Food Sales: $150,000.00 Beverages Sales: $25,000.00 Food Costs: $75,000.00 Beverage Costs: $12,000.00 Labour Costs: $70,000.00 Fixed Costs: $35,000.00 Other costs: $1200.00 Note: do not use the above figures to create budget as these are given for reference only. As the operations manager at the restaurant, it is your responsibility to allocate resources and monitor budgets. It is the budget time for upcoming quarter and Sam asked you to meet to discuss the details. *Note: Provide the below budget information for the upcoming quarter. July – Sep : Income Food sales ($200,000.00) Beverage sales ($30,000.00) Expenditure Food Costs ($85,000.00) Beverage costs ($14,000.00) Labour costs ($77,000.00) Fixed costs ($35,000.00) Other costs ($1500) Activities Meet with the owner (your assessor) to confirm budget allocation Roleplay scenario You will be required to actively participate in the meeting and take notes on the detail provided by the owner (your assessor). Note the details provided by your assessor and ask questions to clarify the information provided. Roleplay conditions Your assessor will play the role of the owner, and you will play the role of operational manager who is responsible for managing the budgets. Your assessor will prepare the environment for the meeting. During the meeting: Discuss broadly about the budget requirements for the upcoming quarter Take notes of the information provided Discuss any changes to the income and expenditure priorities Clarify information provided by asking questions This meeting should take no more than 10 minutes. Answer: Write 3 – 4 paragraphs according to ‘during the meeting’. Develop a budget Sam has asked you to enter the income and expenditure data given to you plus your projections to prepare the draft revenue budget for the upcoming quarter. You could use a Microsoft Excel (or similar software) spreadsheet. If you use spreadsheet software. Make sure you use the headings as provided by Sam: Income: Food Sales, Beverages Sales. Expenditure: Food Costs, Beverage Costs, Labour Costs, Fixed Costs, Other Costs. Totals and Profit/Loss. Name of the Sheet should be ‘Quarterly Budget Allocation’ Name of the file should be ‘July-September Qtr Budget Reports [Date]’ Answer: Write an email to the Restaurant Manager (your assessor) about the resource allocations and budget Restaurant Manager is responsible for purchases and hiring staff. Write an email to the Restaurant Manager and attach your draft budget and ensure that you provide them with enough information so that they can make a judgement of how and why you have allocated funds as you have. Answer: Prepare a variance report for July and August months Sam provided you the following actual income and expenditure information for July and August months. There was an urgent purchase of new equipment in August (cost: $4500 which was not anticipated in the budget. So, the total of the ‘Other costs’ increased to $5000. July August Income Food Sales $66,000.00 $68,000.00 Beverage Sales $9,000.00 $12,000.00 Expenditure Food Costs $27,000.00 $30,000.00 Beverage Costs $4,000.00 $5,000.00 Labour Costs $25,000.00 $35,000.00 Fixed Costs $11,666.67 $11,666.67 Other Costs $400.00 $5,000.00 Sam asked you to create a variance report to make key decisions for September month. Use the ‘July-September Qtr Budget Reports [Date]’ Excel workbook you have created in Activity 2 above and create a separate sheet named ‘Variance Report – July & August’. In this sheet, enter the above budget income and expenditure amounts provided by Sam for the July and August months to produce variance report. Follow the below task requirements when preparing the variance report. You must follow the Top of the Town Organisational Requirements (Appendix 1) You must continue to use the same headings, styles and colour formats similar to the ones used in Quarterly Budget Allocation. You must use the cell referencing to get the values for quarterly budget information from ‘Quarterly Budget Allocation’ sheet. You must calculate the monthly budget based on the quarterly budget amount using a formula. You must calculate the Income and Expenditure totals using a formula. You must calculate the variance figures for income, expenditure and profit/loss figures based on the monthly actual figures against the monthly budgeted figures using a formula. You must calculate the variance totals using the formula. You must use the conditional formatting to highlight variance cells with values over the budget figures. For example all negative income variance values, negative profit/loss variance values and all positive expenditure variance values must be highlighted. Answer: Create a macro to print the variance report as PDF copy You will need to create a macro that will save each worksheet as a separate PDF once data has been entered and saved. Ensure that you use appropriate macro names. You must save the Excel workbook as macro enabled excel sheet. Student can use help function to create macros. Answer:
For assessment task 2 I just need answer for question number 1 & 3 For assessment Task 3 I just need answer for question number 1 & 2 Note: I attach the excel file because you need to answer t
BSBITU402 & SITXFIN003 Marking Guide Version 1.0, October 2021 Page 1 of 2 Appendix 1 – Top of the Town Bar and Restaurant Organisational Requirements Ergonomic requirements Please ensure that you set up and follow ergonomic practices, such as: • Positioning your monitor at the right angle. • Ensuring your feet are placed flat on the floor. • Positioning your chair so that you are sitting correctly. • Check your environment. Ensure the temperature is satisfactory, you have the right light and there is limited noise. • Use effective workplace organisation strategies suc h as: o Taking regular breaks and performing simple exercise o Techniques to support your health and wellbeing during the working day. Use the following websites to support you with ergonomic practices: http://www.wikihow.com/Set -Up -an -Ergonomically -Correct -Workstation https://www.heartfoundation.org.au/for -professionals/p hysical -activity/workplace -wellness Energy and resource conservation Please change your computer settings as follows: • The computer must sleep when inactive • The computer must be scheduled shutdown at 7pm every evening. Never print any documents unless it is required for final storage purposes. Please be mindful of paper waste and general resources in the workplace. There are signs and tips around the office to support you in this practice. Work organisation strategies Follow the below style guide instructions • Standard font is: Black Arial 10 pt. Standard college colours are dark blue and green. • Use portrait page layout format for word documents and landscape for Excel sheets. • The name of the business should be included in the header or at the top of the document. • Footer should include page numbers with size 8 font. • Use border styles to differentiate data in Excel sheets. BSBITU402 & SITXFIN003 Marking Guide Version 1.0, October 2021 Page 2 of 2 • Distinguish headings from data using heading, font size and background colours. • Graphs must be corre ctly labelled and presented on a separate worksheet as the data. • No figures are to be used in formulae only cell references. Follow the below file management guidelines • Spreadsheet workbooks must be given a relevant and appropriate file name. • All spread sheets must be saved in an appropriately named folder. • For each version of spreadsheets saved, including the final version, include the version number as current date within the file name. For example: July -September Qtr Budget Report 12 -11 -2021.xls. • Docu ments must be saved on the company network. When using any software please refer to user documentation and online help to resolve any problems in the first instance. Follow any timings and deadlines for completing documents as specified by your supervisor. Task Requirements • Entering the data • Formatting cells to present data in required format • Linking spreadsheets • Entering the required formulae • Test the formulate to confirm output • Check for consistency and errors • Creating a macro to convert the da ta into PDF document • Use help functions • File management
For assessment task 2 I just need answer for question number 1 & 3 For assessment Task 3 I just need answer for question number 1 & 2 Note: I attach the excel file because you need to answer t
Assessment Task 3 Manage Finances Within a Budget & Develop and Use Complex Spreadsheets Scenario As per the company policy, you are to discuss any significant deviations with the owner and propose recommendations for changes to the budget for the upcoming months. You are required to meet with Sam to discuss the July and August months budget deviations. Activities Write email to Sam From the variance report you’ve developed in Task 2 you can clearly see that there were some areas where the expenses saw significant deviation from the budgets. Write an email to Sam with the following: The areas where there was a significant deviation from the budgeted figures Provide at least three (3) recommendations for changes to the budget for September month. It is your responsibility to meet the budget so you can choose to make recommendations to increase income, decrease expenditure wherever you see fit. In your recommendations, you must at least undertake at least two (2) of the following to bring the costs down to manage the budget for next month: discussions with existing suppliers evaluation of staffing and rostering requirements evaluation of impact of potential roster changes review of operating procedures sourcing new suppliers Attach the PDF copy of the variance report generated using the macro from Task 2: Activity 5 to the email. Answer: Meet with the Restaurant Manager to evaluate options to improve budget performance Roleplay scenario You will meet with the Restaurant Manager (your assessor) to discuss desired budget outcomes. Roleplay conditions Your assessor will play the role of the Restaurant Manager, and you will play the role of operational manager who is responsible for the managing budgets. Your assessor will prepare the environment for the meeting. During the meeting: Discuss the proposed changes/improvements to the budget. Discuss desired budget outcomes. Discuss the benefits and disadvantages of new approaches. Discuss that that there should be no impacts on customer service levels Present clear and logical recommendations for budget management. This meeting should take no more than 10 minutes. Answer: Write 3-4 Paragraphs according ‘During The Meeting’ Prepare variance report for the quarter At the conclusion of the quarter, Sam provided you the revenue and expenses details for September month. Sam asked you to prepare the quarterly variance report. Enter the following data for the September month. September Income Food Sales $70,000.00 Beverage Sales $11,000.00 Expenditure Food Costs $26,000.00 Beverage Costs $4,000.00 Labour Costs $24,000.00 Fixed Costs $10,500.00 Other Costs $400.00 Use the ‘July-September Qtr Budget Reports [Date]’ Excel workbook you have created in Task 2 and create a separate sheet named ‘Variance Report – Jul to Sep’. You can copy the information from the ‘Variance Report Jul & Aug’. Add one more column to add the data for September month. In the September column, enter the above budget income and expenditure amounts provided by Sam for the September month to quarterly variance report. Follow the below task requirements when preparing the variance report. You must follow the Top of the Town Organisational Requirements (Appendix 1) You must continue to use the same headings, styles and colour formats similar to the ones used in Quarterly Budget Allocation. You must use the cell referencing to get the values for quarterly budget information from ‘Quarterly Budget Allocation’ sheet. You must calculate the monthly budget based on the quarterly budget amount using a formula. You must calculate the Income and Expenditure totals using a formula. You must calculate the variance figures for income, expenditure and profit/loss figures based on the monthly actual figures against the monthly budgeted figures using a formula. You must calculate the variance totals using the formula. You must use the conditional formatting to highlight variance cells with values over the budget figures. For example all negative income variance values, negative profit/loss variance values and all positive expenditure variance values must be highlighted. Answer: Prepare budget charts Sam also asked you to prepare the charts for quarterly income, expenditure and variance. In a separate sheet named ‘Charts’ create three tables – ‘Monthly Income’, ‘Monthly Expenditure’ and ‘Monthly Profit/Loss’ Enter the ‘Actual’ and ‘Budget’ figures sourced from ‘Variance Report – Jul to Sep’ worksheet for all three months in the tables. Calculate the variance figure by using the formula. Create charts based on the data from ‘Monthly Income’, ‘Monthly Expenditure’ and ‘Monthly Profit/Loss’ tables. Use the macro (developed in Task 2: Activity 5) to print the charts as PDF Answer:

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