calculate the variance

oreline Waikiki Beach Hotel has asked you to calculate the variance for the following figures for the month ofd August. Also calculate the total profit that was budgeted and actual. Analyse the findings and inform them ahe variance as they are concerned and would like to monitor the income, expenditure, profit levels, budgetaryerformance of their Food and Beverage Department.+ill in / out the ……… with correct values ($) using the correct formulas (calculations)+ItemJuly-AugustBudget-Actual-VarianceBudgetActual-VarianceSales Revenue230,0004225,000–5000+230,000+228,000 -2000Food Costs85,000-87,000 -2000+85,00086,000–1000+Beverage Costs14,00015,000-1000+15,00015,000-Labour Costs77,00082,000-500078,000[ 82,000-4000Fixed Costs35,000.35,00035,000+35,000PTotal Costs211,000219,000-8000-213,000-180,000–5000-Profit19,000-6000-13000-17,000-10.000-7000-The Hotel owners and managers would like to know from you the major areas of concern where there is a deviationthat needs further monitoring and improvement.”Sales Revenuehave variance of July is -5,000 and August is -2,000, thing to do offer (and publicize) specialdeals and discounts, reaching new customer, can raise the prices on their current salesofferings, provide premium services for an add-on price or add new higher-priced productsor services, can also generate more sales revenue by increasing the amount of the goods orservices they sell.