Answer the following two questions: 1. Relative to the 2018 budget projections, how did the company perform in 2018? Why do you say that? 2. Make recommendations for producing the 2019 budget. What changes to projections (or otherwise) should be considered and/or made? Why?

Rylie & Rachel's Dance and Gymnastics Studio ANNUAL BUDGET INSTRUCTIONS: 2017 Budgeting Strategy for 2018 51.433.20 Projected 15% sales increase 3,264.19 Projected 23% interest income in 453.78 Projected 4% decrease in asset sa 55,151.17 INCOME 2018 Estima 2018 Actual DIFFERENCE Net sales 59.148.18 58.794.43 (353.75) Interest income 4.216.37 4,216.37 Asset sales (gain/loss) 476.81 476.81 Total Income 63.487.61 4,339.43 ACTUAL PERSONNEL EX ESTIMATED ACTUAL DIFFERENCE 9,679.63 Projected wage raise of 19% Wages 10,851.52 (10,851.52) 120.32 Projected 8% raise in employess Employee benefits 135.28 (135.28) 4,512.49 Projected 16% increase in commi Commission 5.391.94 (5,391.94) 14.312.44 Total Personnel Expenses 16,378.74 (16,378.74) ACTUAL OPERATING ES ESTIMATED ACTUAL DIFFERENCE 2,544.31 25 %Projected increase in advert Advertising 3.264.38 (3.264.38) 1.897.27 21% Projected bad debt decrease Bad debts 1.697.11 (1.697.11) 2,175.61 Projected 9% decrease in cash dis Cash discounts 1,849.03 (1.849.03) 980.53 Projected 5% depreciation increa Depreciation 1.107.43 (1.107.43) 1.276.24 Projected 15% increase in insurar Insurance 1.278.27 (1.278.27) 2,245.70 27% Projected interest increase Interest 2.750.78 (2.750.78) 4,615.78 10% decerease Projected maint Maintenance and repairs 4,318.01 (4,318.01) 4.522.09 8% increase Projected rent or m Rent or mortgage 4,788.82 (4.788.82) 4.452.47 15% Projected increase in supplie Supplies 5.155.19 (5.155.19) 1,385.06 Projected 7% decrease in utilities Utilities 1.253.14 (1.253.14) 761.68 19% increase Projected other ex Other 851.74 (851.74) 26,856.74 Total Operating Expenses 28,313.90 (28,313.90) For this part of the project, you are given the Actual Budget figures for 2017 (in Column A). Based on the 2017 Actual figures, you are given a budget strategies (Column B) for each income statement list item to make the estimated budgets for 2018. You will provide the 2018 Estimated figures for this assignment in Column D. The 2018 Actual figures are also given in Column E. Once you have provided the 2018 Estimated figures, the difference variance will be given in the far right column (Column G). As you can see, some equations are already entered into this spread sheet. The differnece variances figures will change as you key in the 2018 Estimated column. (le is wise to check the calculations of the formulas once completed.) When the variances have been calculated, you should fill the favorable difference. variance boxes in with yellow this can include the line totals as well, if applicable. An example calculation is given for the first line of the income statement (net sales line; Box D6). Once you have completed each of these calculations, and have the 2018 estimates and variances completed, navigate to the discussion board for the course and answer the associated questions. For excel information and assistance (.e., entering Rylie & Rachel's Dance and Gymnastics Studio ANNUAL BUDGET EXPLANATION & BACKGROUND ACTUAL DIFFERENCE BUDGET TOTALS ESTIMATED Income Expenses Balance (Income minus Expense 0.00 0.00 0.00 63.487.61 44,692.64 18.794.97 63.487.61 (44,692,64) 18.794.97 BUDGET OVERVIEW Income Expenses 70,000.00 60,000.00 50,000.00 Rylie and Rachel's Dance and Gymnastics Studio (named for my daughter and her favorite babysitter and their epic/legendary dance and gymnastics partie is the focus of the Part 1 of the Final Project. The go of the assignment is to show you how budgeting works over a one year period. You will be given actual figures for several categories of income and expenses for 2017. You will then calculate (based on various inputs) budgeted projections for 2017. After you have those calculations, you will find that the 40,000.00 30,000.00 20.000.00 1000000 0.00 ESTIMATED ACTUAL WHAT ARE MY TOP 5 HIGHEST OPERATING EXPENSES? EXPENSE AMOUNT OF EXPENSES 15% REDUCTION Supplies 5,155.19 11.5% 773 28 Rent or more 4.782.82 10.7% 718.32 Maincenance and repairs 4318.01 9.7% 647.70 Advertising 3,264.38 7.3% 489.66 Interest 2.750.78 6.2% 412.62 Total 20.277.18 45.4% 3,041.58 Rylie & Rachel's Dance and Gymnastics Studio ANNUAL BUDGET INSTRUCTIONS: 2017 Budgeting Strategy for 2018 51.433.20 Projected 15% sales increase 3,264.19 Projected 23% interest income in 453.78 Projected 4% decrease in asset sa 55,151.17 INCOME 2018 Estima 2018 Actual DIFFERENCE Net sales 59.148.18 58.794.43 (353.75) Interest income 4.216.37 4,216.37 Asset sales (gain/loss) 476.81 476.81 Total Income 63.487.61 4,339.43 ACTUAL PERSONNEL EX ESTIMATED ACTUAL DIFFERENCE 9,679.63 Projected wage raise of 19% Wages 10,851.52 (10,851.52) 120.32 Projected 8% raise in employess Employee benefits 135.28 (135.28) 4,512.49 Projected 16% increase in commi Commission 5.391.94 (5,391.94) 14.312.44 Total Personnel Expenses 16,378.74 (16,378.74) ACTUAL OPERATING ES ESTIMATED ACTUAL DIFFERENCE 2,544.31 25 %Projected increase in advert Advertising 3.264.38 (3.264.38) 1.897.27 21% Projected bad debt decrease Bad debts 1.697.11 (1.697.11) 2,175.61 Projected 9% decrease in cash dis Cash discounts 1,849.03 (1.849.03) 980.53 Projected 5% depreciation increa Depreciation 1.107.43 (1.107.43) 1.276.24 Projected 15% increase in insurar Insurance 1.278.27 (1.278.27) 2,245.70 27% Projected interest increase Interest 2.750.78 (2.750.78) 4,615.78 10% decerease Projected maint Maintenance and repairs 4,318.01 (4,318.01) 4.522.09 8% increase Projected rent or m Rent or mortgage 4,788.82 (4.788.82) 4.452.47 15% Projected increase in supplie Supplies 5.155.19 (5.155.19) 1,385.06 Projected 7% decrease in utilities Utilities 1.253.14 (1.253.14) 761.68 19% increase Projected other ex Other 851.74 (851.74) 26,856.74 Total Operating Expenses 28,313.90 (28,313.90) For this part of the project, you are given the Actual Budget figures for 2017 (in Column A). Based on the 2017 Actual figures, you are given a budget strategies (Column B) for each income statement list item to make the estimated budgets for 2018. You will provide the 2018 Estimated figures for this assignment in Column D. The 2018 Actual figures are also given in Column E. Once you have provided the 2018 Estimated figures, the difference variance will be given in the far right column (Column G). As you can see, some equations are already entered into this spread sheet. The differnece variances figures will change as you key in the 2018 Estimated column. (le is wise to check the calculations of the formulas once completed.) When the variances have been calculated, you should fill the favorable difference. variance boxes in with yellow this can include the line totals as well, if applicable. An example calculation is given for the first line of the income statement (net sales line; Box D6). Once you have completed each of these calculations, and have the 2018 estimates and variances completed, navigate to the discussion board for the course and answer the associated questions. For excel information and assistance (.e., entering Rylie & Rachel's Dance and Gymnastics Studio ANNUAL BUDGET EXPLANATION & BACKGROUND ACTUAL DIFFERENCE BUDGET TOTALS ESTIMATED Income Expenses Balance (Income minus Expense 0.00 0.00 0.00 63.487.61 44,692.64 18.794.97 63.487.61 (44,692,64) 18.794.97 BUDGET OVERVIEW Income Expenses 70,000.00 60,000.00 50,000.00 Rylie and Rachel's Dance and Gymnastics Studio (named for my daughter and her favorite babysitter and their epic/legendary dance and gymnastics partie is the focus of the Part 1 of the Final Project. The go of the assignment is to show you how budgeting works over a one year period. You will be given actual figures for several categories of income and expenses for 2017. You will then calculate (based on various inputs) budgeted projections for 2017. After you have those calculations, you will find that the 40,000.00 30,000.00 20.000.00 1000000 0.00 ESTIMATED ACTUAL WHAT ARE MY TOP 5 HIGHEST OPERATING EXPENSES? EXPENSE AMOUNT OF EXPENSES 15% REDUCTION Supplies 5,155.19 11.5% 773 28 Rent or more 4.782.82 10.7% 718.32 Maincenance and repairs 4318.01 9.7% 647.70 Advertising 3,264.38 7.3% 489.66 Interest 2.750.78 6.2% 412.62 Total 20.277.18 45.4% 3,041.58