Question The London Docks Caféth

Planning and actual budgets for the month ended September 30, 2020

PLANNING ACTUAL

Budgeted meals quantity (q) 20 000 18 000

Revenues (£5.00q) £100 000 £90 000

Expenses:

Raw material (£2.50q) 50 000 45 000

Wages and salaries (£5 500+£0.25q) 10 500 10 000

Utilities (£2 500 + £0.05q) 3 500 3 400

Facility rent 5 000 5 500

Insurance 2 800 3 200

Fuel 2 500 2 800

Net Operating Income £25 700 £20 100

Required:

a) Outline the objectives of budgeting and explain how London Docks Café benefits from engaging in robust budgetary processes? (15 marks)

b) Report showing London Docks Cafe's revenue and spending variance for September? (20 marks)

c) Based on the variances report you prepared in (b) above, which area/s of

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Stocks a, b, and c are similar in some respects: each has an expected return of 10% and a standard deviation of 25%. stocks a and b have returns that are independent of one another; i.e., their correlation coefficient, r, equals zero. stocks a and c have returns that are negatively correlated with one another; i.e., r is less than 0. portfolio ab is a portfolio with half of its money invested in stock a and half in stock b. portfolio ac is a portfolio with half of its money invested in stock a and half invested in stock c. which of the following statements is correct? a. portfolio ab has a standard deviation that is greater than 25%.b. portfolio ac has an expected return that is less than 10%.c. portfolio ac has a standard deviation that is less than 25%.d. portfolio ab has a standard deviation that is equal to 25%.e. portfolio ac has an expected return that is greater than 25%.