Part C
For this part, use MS Excel for calculating and preparing the budget.
Assume you have conducted research on the available vendors/suppliers and have received the following information:
|
Quote ($)
|
Comments
|
Venue
|
2,000.00
|
Main hall and stage
|
Stationery items / Postages
|
225.00
|
|
Communication
|
250.00
|
|
Event staff uniform
|
650.00
|
T-shirt for service staff in the event.
|
Hire audio-visual equipment
|
3,500.00
|
Projector, microphones, sound systems, screens
|
Floral arrangements
|
4,000.00
|
35 x table centres, 8 x large stands
|
Stage and lighting hire
|
5,500.00
|
For stage and dance floor with colourful spot lights
|
Food and service equipment lease
|
1,570.00
|
Food preparation and service equipment
|
Master of ceremonies
|
900.00
|
6 hours including auction
|
Consultant fees
|
4,000.00
|
|
Prepare linen hire cost for the event
The financial information from suppliers on the cost for linen for the event is provided below. Prepare the linen hire cost based on following information.
Linen type
|
Price per item
($)
|
Quantity
|
Cost
($)
|
Round tablecloths
|
8.50
|
35
|
|
Trestle tablecloths
|
8.50
|
10
|
|
Table overlays
|
5.50
|
35
|
|
Napkins
|
0.70
|
350
|
|
Chair covers
|
3.00
|
350
|
|
Total linen hire costs
|
|
Prepare an expense budget
Based on the quotes provided by suppliers and your calculations, prepare an expense budget for the event.
Expense budget
|
Expense item
|
($)
|
Venue
|
|
Stationery items / Postages
|
|
Communication
|
|
Event staff uniform
|
|
Hire audio-visual equipment
|
|
Floral arrangements
|
|
Stage and lighting hire
|
|
Food and service equipment lease
|
|
Master of ceremonies
|
|
Consultant fees
|
|
Linen hire
|
|
Total expenses
|
|
Prepare a wage budget for the event
For the event, all human resources required are managed by a HR firm. The financial information from the company on wages is provided below.
Besides the listed wages, an extra $10 per hour penalty will need to be paid, for any one that worked more than 8 hours in a day, after the allotted time.
The staff are required for two days.
Friday – for room set-up and food preparation
Saturday – for the day of the event.
The required resources are listed in the table below:
Job role
|
No. of staff
|
Rostered hours per person
|
Pay rate per hour
|
|
|
Friday
|
Saturday
|
Weekday
($)
|
Weekend
|
Cook
|
2
|
8
|
8
|
30.00
|
35.00
|
Kitchen assistant
|
2
|
6
|
8
|
22.00
|
25.00
|
Kitchen hand
|
2
|
|
8
|
18.00
|
20.00
|
Waiters
|
5
|
8
|
8
|
20.00
|
25.00
|
Waiters
|
10
|
|
8
|
20.00
|
25.00
|
Bar attendant
|
2
|
4
|
6
|
20.00
|
25.00
|
Security 1
|
1
|
3 pm to 11 pm
|
3 pm to 11 pm
|
35.00
|
45.00
|
Security 2
|
1
|
11 pm to 7 am (Sat)
|
6 pm to 2 am (Sun)
|
35.00
|
45.00
|
Security 3
|
1
|
|
7 am to 3 pm
|
35.00
|
45.00
|
Supervisor
|
2
|
10
|
10
|
40.00
|
50.00
|
Based on the information provided, prepare a wage budget using the template below:
Job role
|
Wages
|
Total wages
|
|
Friday ($)
|
Saturday ($)
|
$($)
|
Cook
|
|
|
|
Kitchen assistant
|
|
|
|
Kitchen hand
|
|
|
|
Waiters
|
|
|
|
Waiters
|
|
|
|
Bar attendant
|
|
|
|
Security 1
|
|
|
|
Security 2
|
|
|
|
Security 3
|
|
|
|
Supervisor
|
|
|
|
Total event wages
|
|
Prepare food and beverages cost
For the food and beverages, assume the following:
Ticket prices will include a four-course meal with wine, beer, soft drinks and juices.
Every meal caters for two (2) customers, except for the tapas appetiser, which is a shared platter for each table.
An extra 50 meal sets are required for staff and entertainers.
Beverages include a variety of red and white wines to match each course, bottled light and heavy beer, post-mix soft drinks and orange juice.
Standard recipes have been costed for each course and an individual cost per serve determined.
Calculate the food costs including food cost per head, assuming 350 customers bought the tickets and attended the charity ball.
|
Cost x 1 serve
($)
|
No. serves required
|
Food cost
($)
|
Tapas platter
|
6.75
|
2 per table x 35 tables
|
|
Baby beetroot with aged balsamic salad
|
3.84
|
175
|
|
Pan fried potato gnocchi, crispy bacon pasta
|
2.60
|
175
|
|
Portuguese marinated chicken
|
5.27
|
200
|
|
Mustard and macadamia rack of lamb
|
6.22
|
200
|
|
Sticky date chocolate pudding
|
2.00
|
175
|
|
Baileys tiramisu
|
1.95
|
175
|
|
Tea/coffee
|
0.25
|
350
|
|
Petits fours
|
0.35
|
350
|
|
Total food costs
|
|
Food cost per head
|
|
Calculate the beverage costs including beverage cost per head.
Beverage item
|
Cost per item per bottle/serve ($)
|
Forecasted requirements
|
Beverage cost
($)
|
Sparkling wine
|
14.52
|
60
|
|
Sauvignon Blanc
|
15.07
|
55
|
|
Chardonnay
|
14.21
|
60
|
|
Botrytis Riesling
|
22.53
|
45
|
|
Merlot
|
8.80
|
50
|
|
Shiraz
|
12.45
|
45
|
|
Cabernet Sauvignon
|
15.01
|
55
|
|
Light beer (750 ml)
|
3.40
|
50
|
|
Heavy beer (750 ml)
|
3.99
|
30
|
|
Soft drink
|
0.20
|
400
|
|
Juice
|
0.31
|
225
|
|
Total beverage costs
|
|
Beverage cost per head
|
|
Prepare draft event budgets
Based on the information provided below, prepare the event budget
The event committee has asked you to prepare two alternative revenue statement budgets based on ticket prices of $100.00 and $200.00. They wish to determine the most feasible and profitable alternative for their organisation.
From previous experience in projects, it has been identified that a specific percentage of ticket sales revenue is spent on additional expenses, such as advertising, printing, decorating the venue and entertainment for the event. These expenses need to be included in the revenue statement budgets.
Additional expenses
|
% of revenue
|
Advertising
|
1%
|
Printing
|
0.25%
|
Room decoration
|
3%
|
Entertainment
|
5%
|
|
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