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FINANCE IN THE HOSPITALITY INDUSTRY TASK 3

FINANCE IN THE HOSPITALITY INDUSTRY DEFINE, COMPARE, EXPLAIN, DISCUS ADVANTAGES & DISADVANTAGES, AND ANALYSE WITH DIAGRAMS. TABLE OF CONTENTS, ASNWERS TO BE NUMBERED AS IT IS IN THE QUESTION TASK ONE IS REPORT ESSAY TASK TWO IS REPORT ESSAY NOTES: 1. TABLE OF CONTENTS 2. GOOD INTRODUCTION 3. EXCELLENT BODY REPORT WITH DIAGRAMS 4. GOOD CONCLUSION 5. REFERENCES ALSO NOTE THAT ALL QUESTIONS MUST BE ANSWERED AND EXPLAIN, DEFINE AND DISCUSS, ACCESS AND EVALUATE ALL QUESTIONS WHERE NECESSARY AND WITH DIAGRAMS WHERE NECESSARY. ………………………………………………………………………………………………………………….. Yuri, a cutlery manufacturer, produces spoons. The market in which the business operates is highly competitive, as there is a shortage of steel of adequate quality. There is a good availability of labour, but not of those who are experienced in cutlery manufacture. The budgeted and actual figures for the previous period are represented in the tables below Budget Actual Variance Units sold 100,000 75,000 (25,000) Materials £ 15,000 22,500 (7,500) Direct labour £ 22,500 24,375 (1,875) Material (£) Labour (£) Price/rate variance (4,500) 3,750 Usage/efficiency variance (3,000) (5,625) Total variance (7,500) (1,875) Required: AC3.3 Define budgetary control, explain budgetary circle and discuss the process and purpose of budgetary control(with Diagram) AC3.4 analyse 5 variances from budgeted and actual figures, offering suggestions for appropriate future management action
FINANCE IN THE HOSPITALITY INDUSTRY DEFINE, COMPARE, EXPLAIN, DISCUS ADVANTAGES & DISADVANTAGES, AND ANALYSE WITH DIAGRAMS. TABLE OF CONTENTS, ASNWERS TO BE NUMBERED AS IT IS IN THE QUESTION TASK ONE IS REPORT ESSAY TASK TWO IS REPORT ESSAY NOTES: 1. TABLE OF CONTENTS 2. GOOD INTRODUCTION 3. EXCELLENT BODY REPORT WITH DIAGRAMS 4. GOOD CONCLUSION 5.
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Assignment ID
7053
Discipline
CREATED ON
November 7, 2015
COMPLETED ON
November 8, 2015
Price
$40
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