SITXFIN003 : Manage Finances Within a Budget - Management Assignment Help

Assignment Task:

Task:

Scenario
You are the assistant manager of TIV restaurant have been set a food budget of 35% food cost. For the last 3 months you have had an average food cost percentage of 38.96% and your manager has told you to find ways to get the food budget back to 35%. You need to find a new pricing structure for how much each menu items selling price is to meet this target. In the sales summary on the next page find a way to slightly increase prices of certain menu items in order to get the sales back below budget.

1. For the scenario 1 produce and excel spreadsheet the same as the one previous with the calculations showing a Total food cost percentage of 35% or below.
2. Produce 3 more excel spreadsheet charts for the following time periods:
• 1
st Oct 2018 to 1st Jan 2019
• 1
st Jan 2019 to 1 Apr 2019
• 1
st Apr 2019 to 1st July 2019
Base these forecast budgets on the average food cost increasing by 0.75% per quarter and making sure you have food sales over costs percentage remains below 35%

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