• Since all businesses being evaluated are Australian restaurants, it was assumed that all amounts were in Australian dollars (A$) unless indicated otherwise in the reports.

Kitchen on Kent

• The net revenue for the restaurant for the year ended 12/31/19 was A$2,607,605. This was A$1,122,106 (3,729,711-2,607,605) less than the budgeted amount of A$3,729,711. Therefore, the actual sales for 2019 were 30.1% (1,122,106/3,729,711*100) below projections.
• It was projected that food would account for 81.1% of sales and beverages would make up the remaining 18.9% for 2019. Actually, food accounted for 92% of sales, and beverages accounted for 8%.
• The cost of sales for food and beverage was expected to be A$1,354,444 in 2019, but the actual cost was A$1,035,055. The actual cost was A$319,389 (1,354,444-1,035,055) less than budgeted, which is 23.6% (319,389/1,354,444*100) less than projections.
• The payroll and related expenses totaled A$1,846,830 for 2019, which was A$36,441 (1,846,830-1,810,389) more than the budgeted amount of A$1,810,389. Therefore, actual payroll related expenses were 2.0% (36,441/1,810,389*100) more than budgeted for 2019.
• Other expenses were projected to be A$225,145 for the year, while actual other expenses came in at A$302,134, which was A$76,989 (302,134-225,145), or 34.2% (76,989/225,145*100), over budget.
• Net income for the year was budgeted at A$339,734, but the company actually lost A$576,414. This was 269.7% [(339,734-(-)576,414)/339,734*100] less than projected.

Melba Restaurant

• The net revenue for the restaurant year-to-date through 10/31/19 was A$9,460,943. This was A$877,587 (10,338,530-9,460,943) less than the budgeted amount of A$10,338,530. Therefore, the actual sales through October 2019 were 8.5% (877,587/10,338,530*100) below projections.
• It was projected that food would account for 89.4% of revenue and beverages would account for 10.4%. The actual numbers through October were very similar with food representing 90.7% and beverages 9.2% of total revenue.
• The cost of sales for food and beverage was expected to be A$2,924,882 through October, but the actual cost was A$2,740,254. The actual cost was A$184,628 (2,924,882-2,740,254) less than budgeted, which is 6.3% (184,628/2,924,882*100) less than projections.
• The payroll and related expenses totaled A$4,938,711 through October 2019, which was A$265,396 (5,204,107-4,938,711) less than the budgeted amount of A$5,204,107. Therefore, actual payroll expenses were 5.1% (265,396/5,204,107*100) less than budgeted.
• Other expenses were projected to be A$370,044 through October, while the actual other expenses came in at A$436,144, which was A$66,100 (436,144-370,044), or 17.9% (66,100/370,044*100), over budget.
• Net income through October 2019 was budgeted at A$1,839,497, but the company actually made A$1,345,834. This was 26.8% [(1,839,497-1,345,834)/1,839,497*100)] less than projected.