Individual Assignment an augmented reality phone game Element 011: Individual Project Developing Enterprise Systems TMG Assessme…

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Bachelor of Tourism and Hospitality
Management
BTHM
2021-SEM1-THH3113 Cost and Performance Management for Tourism and Hospitality
Assessment Task 2: Individual Assignment
Assessment of the assignment is based on the adequacy and accuracy of the submitted
assignment.
For all written work students must ensure that they submit their own original work. Any
act of plagiarism will be severely penalised.
Students must:
• fully reference the source(s) of all material, even if you have re-expressed the ideas,
facts or descriptions;
• acknowledge all direct quotations; and
• Not submit work that has been researched and written by another person.
Your work will be assessed in terms of the following criteria:
1. Effectiveness of communication – i.e. readability, legibility, neatness, completeness and
presentation
2. Demonstrated understanding of the subject matter covered – This will be evidenced by
your ability of submitted answers.
Certain aspects of these questions may require some assumptions to be made. Therefore,
different answers are very acceptable. For ease of marking please specify these if you
think it clarifies your decisions and responses.
Your assignment must be submitted into the Turnitin drop box on LMS.
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THH3113 COST AND PERFORMANCE MANAGEMENT FOR TOURISM AND HOSPITALITY
(2021 Sem 1)
Case study:
The Elegant Hotel was first opened as the Princes Hotel in 1888.
The Hotel was refurbished in 2020 and is comprised of a large public bar with full facilities,
dining room, beer garden, bottle shop – the Valley Wine Shop, located on the corner of
Brunswick & Wickham streets in Brisbane CBD Queensland Australia.
The owners of The Elegant Hotel Jack & Jill have successfully renewed their trading license for
their hotel, and they have a lot of local competitors. JACK & JILL are very concerned about their
business that they might succeed only if they cut done on their costs as they are also hit by the 2020
covid pandemic.
They want to compare their budgeted income and expenses with current year income statement
and see how they have performed in the basis of cost and revenue management when compared.
Jack and Jill is well aware of the surprises that this pandemic will bring , thus want to know what are
their major cost drivers and how can they be reduced in future
They want to be proactive thus forecast and decide for any extra costs that they might incur in
running their business. As their current revenue manager you are approached to evaluate factors
affecting value perceptions in food services.
JACK & JILL are sure that you can help them to point out the cost drivers and evaluate management
cost drivers that measure performance of the cost control
The extract of The Elegant Hotel is below which you should use for your analysis.
Income & Expenses Statement for The Elegant Hotel for the year ended 30th June 2021
Budgeted Income
and Expenses
Current INCOME
& EXPENSES
2020-2021
2020-2021
INCOME
RESTAURANT Sales
$218,750.00
$175,000.00
Sale from Bar
$122,500.00
$125,000.00
TOTAL SALE
$341,250.00
$300,000.00
Expenses
Advertising
$1,476.57
$1,968.75
Bank charges
$405.00
$540.00
Casual employee wages
$70,312.50
$93,750.00
Cleaning & cleaning products
$607.50
$810.00
Credit card commission
$5,096.25
$6,795.00
Electricity/Gas
$18,562.50
$24,750.00
FOOD DELIVERY Vehicle service costs
$1,518.75
$2,025.00
kitchen utensils hire
$675.00
$900.00
Netflix subscription
$506.25
$675.00
Permanent full-time employees Salary
$157,500.00
$157,500.00
property insurance
$590.63
$787.50
Public liability insurance
$472.50
$630.00
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Repair & maintenance
$1,265.63
$1,687.50
Superannuation for employees
$6,735.80
$8,981.07
Waste removal
$911.25
$1,215.00
Water charges
$4,725.00
$6,300.00
Website hosting expenses
$1,497.66
$1,996.88
Total Expenses
$272,858.77
$311,311.70
Month Net Profit / (Loss)
$68,391.24
-$11,311.70
NOTES FOR THE NEW SHOP RUNNING EXPENSES
1. The bank charges depend on the number of transactions that takes place in the
restaurants
2. Property Insurances change according to the area
3. Kitchen utensils are hired as per the catering orders they receive. All cooking is done in
the current shop (management doesn’t want to plan outdoor catering. If they are
getting an order, they have decided to make it all in the current hotel and deliver)
4. There was an unexpected equipment failure in the hotel during in the months of
December that has increased the repair expenses (this was mainly because of poor
record keeping for the equipment’s maintenance)
5. The management has implemented some strict waste reduction measure as a result the
waste removal charges have decreased
Analysis and Report (30 marks. Approximately 1250 – 1500 words)
1. Cost Analysis: (10 Marks)
Calculate and recommend Jack & Jill which of these following expenses are high and should
be controlled when compared with revenue. Analyse Relation between the cost and
revenue increase or decrease? Use the trend analysis tools (10 MARKS)
2. PERFORMANCE ANALYSIS (VARIANCE): (5 Marks)
Perform a variance analysis on the following report and discuss about the variances in
performance when compared to their budget
3. Cost Control: (10 Marks)
Identify and evaluate cost control areas and recommend how they can control them
in future by better cost management. Identify and critically appraise & evaluate cost
drivers and their behaviours. Identify a minimum 4 cost control theories to control cost (10
MARKS)
4. Report Presentation with no errors is awarded (5 marks)
(you can use Microsoft excel to work on your assignment and import it to Microsoft word
when writing your report)
Further Instructions:
1. Your assignment must be submitted no later than the Sunday ending week 7 (9th
May 11:59 PM.) Assessment tasks submitted after the due date, without prior approval or
arrangement, will be penalised by ten percent. Requests for extension of time must be made
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with your lecturer and based on Special Consideration guidelines using the special
consideration form.
2. It is preferred you do your assignment using Microsoft word
3. This assignment must be handed in for successful completion of the course and will
count as 30 marks towards the final mark.
4. All assignments are to be uploaded to the Turnitin link
Your report should be in this format:
Contents Page:
A. Executive summary (100 – 150 words)
B. Body of the Report (total 25 Marks) (body of the report should comprise of the following)
1. Cost & revenue Analysis: (10 Marks)
Calculate and recommend Jack & Jill which of these following expenses are high and should
be controlled when compared with revenue.
2. PERFORMANCE ANALYSIS (VARIANCE): (5 Marks)
Perform a variance analysis on the following report and discuss about the variances in
performance when compared to their budget
3. Cost Control: (10 Marks)
Identify and evaluate cost control areas and recommend how they can control them
in future by better cost management (classify fixed and variable cost and recommend
better options to control them where ever possible)
C. References:
References page & overall presentation with no errors is awarded (5 marks)(you can use
Microsoft excel to work on your assignment calculation part and import it to Microsoft word when
writing your report. Please use proper referencing where needed using APA style)

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