SITXFIN003 MANAGE FINANCES WITHIN A BUDGET

Bistro profit and loss statement – June quarter

Monthly actual results June quarter actual results

  May June July Budget Actual Variance Variance
$ $ $ $ $ $ %
Revenue
Food sales 119,837 112,676 110,356 328,500 342,869 14369 4.4
Beverage sales 96,390 90,497 84,630 262,500 271,517 9015 3.4
Total sales 216,227 203,173 194,986 591,000 614,386 23386 4.0
Cost of sales
Food purchases 45,048 45,865 42,174 124,100 133,087 (8987) (7.2)
Beverage purchases 30,043 29,399 23,827 78,750 83,269 (4519) (5.8)
Total cost of sales 75,091 75,264 66,001 202,850 216,356 13506 6.7
Gross profit 141,136 127,909 128,985 388,150 398,030 9880 2.5
Expenses
Advertising/Promotions 624 981 884 2,600 2,489 (111) 4.3
Cleaning contractor 1,490 1,490 1,490 4,471 4,470 (1) 0
Small equipment replacement 393 288 372 1,000 1,053 (53) (5.3)
(17)
Laundry 232 237 283 735 752 (2.3)
Maintenance 1,262 1,329 1,314 4,480 3,905 575 12.8
Printing & stationery 195 114 145 480 454 26 5.4
Training & seminars 653 713 519 1,200 1,885 685 (57.1)
Wages & on-costs 98,771 103,283 97,745 260,762 299,799 (39,037) (15)
Utilities 3,235 3,456 4,190 10,588 10,881 (293) (2.8)
Total expenses 106,855 111,891 106,942 286,316 325,688 (39372) (13.7)
NET PROFIT 34,281 16,018 22,043 101,834 72,342 (29492) (29)

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SITXFIN003 MANAGE FINANCES WITHIN A BUDGET

Trend analysis report – June quarter

Monthly actual results Comparison to previous June quarters

  June June June Variance Variance
May June July quarter – quarter – quarter – 200X to 20XX to
current 200X 20XX current 200X
V% V% V% $ $ $ % %
Revenue
Food sales 14.0 (2.0) 1.8 328,500 286,781 256,955 (12.7) (10.4)
Beverage sales 8.0 (1.5) 4.0 262,500 228,638 208,975 (12.9) (8.6)
Total sales 11.2 (1.8) 2.7 591,000 515,419 465,930 (12.8) (9.6)
Cost of Sales
Food purchases (10.0) (8.7) (6.2) 122,859 106,273 96,602 (13.5) (9.1)
Beverage purchases (9.0) (9.8) 2.4 78,750 66,229 60,732 (15.9) (8.3)
Total cost of sales (9.6) (9.1) (2.9) 201,609 172,502 157,334 (14.4) (8.8)
Gross profit 12.1 (7.2) (2.7) 389,391 342,917 308,596 (11.9) (10)
Expenses
Advertising/Promotions 20.0 (2.0) (3.0) 2,600 2,275 2,025 (12.5) (11.0)
Cleaning contractor 0.0 0.0 0.0 4,471 3,845 3,230 (14.0) (16.0)
Small equipment replacement (18.0) 13.7 (11.6) 1,000 890 829 (11.0) (6.9)
Laundry 5.5 3.2 (15.4) 735 642 581 (12.7) (9.5)
Maintenance 15.5 11.0 12.0 4,480 3,754 3,274 (16.2) (12.8)
Printing & stationery (22.0) 29.0 9.2 480 453 425 (5.6) (6.2)
Training & seminars (60.0) (80.0) (31.0) 1,200 1,062 1,017 (11.5) (4.2)
Wages & on-costs (15.0) (15.6) (14.3) 260,762 219,822 200,698 (15.7) (8.7)
Utilities 6.0 1.1 14.7 10,589 8,661 7,674 (18.2) (11.4)
Total expenses 13.4 14.4 (13.8) 286,317 241,404 219,753 (15.6) (9.0)
NET PROFIT 8.5 (60.1) (30.4) 103,074 101,513 88,843 (1.5) (12.0)

2 2020 Edition
 SITXFIN003 MANAGE FINANCES WITHIN A BUDGET

Variance formula
To calculate variance between two time periods.

(Current year – Previous year) / Current year x 100 = variance%

Example 1
(June quarter current year – June quarter 200X) / June quarter current year x 100 = variance between the two periods

Food sale variance = (328,500 – 286,781) / 328,500 x 100 = 12.7% increase in food sales revenue

Example 2
(June quarter 200X – June quarter 20XX) / June quarter 200X x 100 = variance between the two periods

Cleaning contractor variance = (3,845 – 3,230) / 3,845 x 100 = 16.0% increase in cleaning contractor expenses

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