A+ Work

Financial Statement: Operating Budget

using the percentage values and the formulas populated in your last assignment, develop an operating budget for forecasted sales value of $64,500 for the same month next year.

Using your last assignment as the basis for your budget development, create the operating budget in a new Microsoft Excel document.  Be sure to use Excel formulas for each item on the income statement.

 In a Word doc, describe how you computed your costs and expenses and determined your net income.

Current Income Statement

Food Revenue 47500 100%

Expenses    

Cost of Food Sales 16415 34.56%

 Wages Expense 11885 25.02%

Supplies Expense 350 0.74%

 Utilities 1200 2.53%

Advertising 300 0.63%

Depreciation Expense 160 0.34%

 Rent Expense 775 1.63%

 Interest Expense 120 0.25%

 Laundry Expense 560 1.18%

 Kitchen Fuel 150 0.32%

 Radio Advertising 1200 2.53%

 Administrative Expense 2200 4.63%

Repairs and Maintenance 600 1.26%

Total Expenses 35915 75.61%

 Net Income 11585 24.39%

Increase needed 1738 3.66%

New Profit 13323 28.05%