SITXFIN004 Prepare and Monitor Budgets

  • Subject Code :  

    SITXFIN004

  • Country :  

    AU

  • University :  

    Victoria University

Answer:-

Activity 1:

  1. Two food businesses selected by me are (i) Cross Eatery and (ii) Workshop Espresso.

Cross eatery is a café that offers both dine-in and takeaway of burgers, sandwiches, coffee, etc. The expected average ticket size for Cross eatery is $30 for breakfast and lunch, as on an average a customer order a burger or sandwich along with a coffee, and this costs $ 30 on an average for two people and generally, people visit café with atleast one person. On an average the ticket size for dinner shall be $40.

On the other hand, Workshop Espresso is a quick service restaurant, it is a take away joint, wherein people from nearby offices visit to grab a quick cup of coffee, a croissant or a burger at times. Workshop Espresso offers quick servings to the visitors. An average spend at the café is $15, as it is a quick service joint, people normally grab a coffee and light snack along with it. The ticket size for all three meals remain the same.

  1. The estimated covers for a week are as under:

 

Cross Eatery

Workshop Espresso

Particulars

Breakfast

Lunch

Dinner

Total

Breakfast

Lunch

Dinner

Total

 Monday

            100

         65

           45

         210

              80

         90

         75

         245

 Tuesday

            100

         65

           45

         210

              80

         90

         75

         245

 Wednesday

            100

         65

           45

         210

              80

         90

         75

         245

 Thursday

            100

         65

           45

         210

              80

         90

         75

         245

 Friday

            130

         90

         130

         350

            100

         90

         75

         265

 Saturday

            130

         90

         130

         350

              90

         60

         60

         210

 Sunday

              45

         60

         120

         225

               -   

         30

         30

           60

 

  1. Sales on a day by day and service basis:

 

 

Cross Eatery

Workshop Espresso

Particulars

Breakfast

Lunch

Dinner

Total

Breakfast

Lunch

Dinner

Total

 

$

$

$

$

$

$

$

$

 Monday

        3,000

   1,950

     1,800

     6,750

        1,200

   1,350

   1,125

     3,675

 Tuesday

        3,000

   1,950

     1,800

     6,750

        1,200

   1,350

   1,125

     3,675

 Wednesday

        3,000

   1,950

     1,800

     6,750

        1,200

   1,350

   1,125

     3,675

 Thursday

        3,000

   1,950

     1,800

     6,750

        1,200

   1,350

   1,125

     3,675

 Friday

        3,900

   2,700

     5,200

   11,800

        1,500

   1,350

   1,125

     3,975

 Saturday

        3,900

   2,700

     5,200

   11,800

        1,350

      900

       900

     3,150

 Sunday

        1,350

   1,800

     4,800

     7,950

               -   

      450

       450

         900

 

Activity 2:

Item

Standard portion

Purchase cost

Number of items

Sale price

Sales

Product cost %

1 Kg Coffee beans

Standrd Café latte

$80

140

 $        3.50

 $           490

16.3%

1 Litre Whisky

Standard size serve

$70

33

 $     10.00

 $           330

21.2%

750 ml red wine

Glass of wine (State wine)

$35

8

 $     20.00

 $           160

21.9%

Barrel of Beer

285 ml pot of beer

$430

410

 $        5.00

 $        2,050

21.0%

Activity 3:

Industry rates for ‘Restaurants and café’: 1.036%

Industry rates for ‘Hotels and Bars’: 1.626%

Industry rate for ‘Accommodation’: 2.079%

(Ref: https://content.api.worksafe.vic.gov.au/sites/default/files/2018-06/NOC-Industry-premium-rates-and-industry-claims-cost-rates-2016- 2017 -2016-07.pdf)

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