HR7003: The Fleet Highlands Cafe Case Study - Prepares Meals for Tourists and Citizens - Finance Assignment Help

Assignment Task:

Your Task: 

The Fleet Highlands Café is a company that prepares meals for tourists and citizens in its kitchen located next to the local airport. The company’s planning and actual budgets for March appears below:

The Fleet Highlands Cafe

Planning and actual budgets for the month ended March 31, 2019
                        PLANNING        ACTUAL
Budgeted meals quantity    (q)        20 000        18000 
Revenues (£5.00q)                £100 000        £90 000
Expenses:
Raw material (£2.50q)            50000        45000
Wages and salaries (£5 500+£0.25q)    10 500        10 000
Utilities (£2 500 + £0.05q)            3500        3 400
Facility rent                     5000        5 500
Insurance                    2800        3200
Fuel                        2500        2 800
Net Operating Income            £25700        £20100

Required: 
a) What is the objective of preparing a budget for Fleet Highlands Café?(10 marks)
b) Prepare a report showing the company’s revenue and spending variance for March? (20 marks)
c) Which variances should be of concern to management? Explain(40 marks)
d) Advise the Fleet Highlands Café on what they need to do to maintain their profitability and sustainability going forward. (20 marks)

The word count for this assignment is 1,500 words and will not include the title page, executive summary, contents page or bibliography.

It is important that you show knowledge of key debates within the wider literature. Also, it is strongly advised that you are critical in your writing and ensure a good level of integration and coherence in applying theories. Please work on, and ensure an excellent level of criticality, coherence, and flow of your report. This will require effective discussion and clarity. 

Please note that a significant amount of the marks is awarded based on wider reading, critical and logical presentation, quality of argument, referencing, academic integrity and academic writing conventions. Please see Assessment Criteria on the Moodle.

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