SITXFIN003 Manage Finances within a Budget

Task 2 – Variance Analysis

Note

You have been provided with the projected data sheet for reference in the Task 2 Spread sheet.

Please use the Assessment Task 2 spread sheet file to complete the calculations.

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In this task you are provided with an excel file with 2 spread sheets (Budgeted Rooms Revenue Sheet, Actual Rooms
Revenue sheet) with the actual figures on the rooms for a given quarter. You are required to calculate the actual
revenue that has been generated for each month in the given quarter based on the actual occupancy rate.

Calculate the following details using the appropriate sheet as per the given instructions

Budgeted Rooms Revenue Sheet

Refer to the projected data sheet.

 In this sheet first calculate the total projected/forecasted revenue per room type for all 365 days.
 You are also required to calculate total projected/forecasted revenue per room type for each month for Jan,
Feb and Mar.
 Calculate the total rooms for each month
 Calculate the Total Revenue for all room types for each month
 Calculate the total projected revenue for 3 months (Jan, Feb and Mar)

Actual Rooms Revenue Sheet

 In this sheet you are provided with the Actual occupancy for each month.
 Calculate the Revenue per room type for each month (Jan, Feb and Mar)
 Calculate the total rooms for each month
 Calculate the Total Revenue for all room types for each month
 Calculate the Variance for each room type for each month (Note before you can do this calculation you have
first calculated the budgeted rooms revenue for each month as instructed above using the Budgeted Room
Revenue sheet)
 Calculate the variance %

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