Managing Finance– Setting and Acheiving Budgets

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…heavy rain and resultant road closures, guest numbers were down in January, but for the other five months, the numbers of tourists were greater than anticipated due to a brilliant wildflower display and the filling of lakes. The actual guest numbers was 12,000 for the six months. VARIUOS REPORT EXPENSES ACTUAL BUDGET VARIANCE VARIANCE % Lease Payments $3,000 $3,000 NIL NIL Wages $70,000 $55,000 ($15,000) 27.27% Administration Expenses $8,000 $8,750 $750 8.57% Power & Lighting $12,000 $8,125 ($3,875) 47.69% Depreciation on Equipment $15,000 $15,000 NIL NIL Interest on Loan $4,800 $4,800 NIL NIL Cleaning Expenses $24,000 $25,000 $1,000 4.00% TOTAL $136,800 $119,675 ($17125) 14.31%