Paying 250fg for this question to be answered along with explanations, ty. Need this ASAP. (As in, within the next 2 hours)
Written Exercise #1:
The Finance Manager comes to you and asks you to update him on the budget status of the three hot pools. The Radium Hot Springs pool requires a major repair that will cost approximately $100,000 and he needs to knows if there will be sufficient funds to do the repair this fiscal year, or if he will have to delay it until the following year. Note surplus funds in one facility can be transferred to another. It is January 2015 and the fiscal year ends March 2015.
Banff Upper Hot Springs
Revenue forecast $1,500,000
Revenue to date $1,250,000
Salary Budget $495,000
Salary spent to date $370,000
Goods & Services budget: $900,000
Goods & Services expenditures to date:
- Utilities $75,000
- Maintenance & Repair $180,000
- Office Supplies $5,000
- Staff training $25,000
- Grounds care $50,000
- Chemicals, cleaning supplies $180,000
- Travel related costs $100,000
- Miscellaneous $75,000
Radium Hot Springs
Revenue forecast $1,000,000
Revenue to date $830,000
Salary Budget $300,000
Salary spent to date $224,000
Goods & Services Budget $550,000
Goods & Services expenditures to date:
- Utilities $50,000
- Maintenance & Repair $300,000
- Office Supplies $3,000
- Staff training $12,000
- Grounds care $25,000
- Chemicals, cleaning supplies $85,000
- Repairs – electrical systems $45,000
- Miscellaneous $25,000
- Capital improvements $38,000
Miette Hot Springs
Revenue forecast $750,000
Revenue to date $350,000
Salary Budget $200,000
Salary spent to date $165,000
Goods & Services Budget $400,000
Goods & Services expenditures to date:
- Utilities $20,000
- Maintenance & Repair $40,000
- Office Supplies $3,000
- Staff training $10,000
- Grounds care $30,000
- Chemicals, cleaning supplies $40,000
- Repairs – heating systems $55,000
- Miscellaneous $15,000
- Capital Improvements $78,000
This post was edited by Guo on Apr 23 2015 11:07am