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%