How to Make Food and Beverage Budget in Excel

In daily life, people have to make or follow many types of budgets. This is necessary for maintaining the expenses of day-to-day life. If you want to throw or organize a party for yourself or others then, you must maintain a budget to complete everything superbly. By using Microsoft Excel in this regard, you can make your task easier.  In this article, I will show you how to calculate a food and beverage budget in Excel.


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5 Easy Steps to Make Food and Beverage Budget in Excel

In this article, you will see five easy steps to make food and beverage budget in Excel. The steps will contain the details from preparing the data set to show the final result, including all necessary calculations.

For making the budget, I will use the following data set, where the initial information regarding a small party is given.

5 Easy Steps to Make Food and Beverage Budget in Excel


Step 1: Preparing Data Set with Available Information

In the first step, you will create the required data set to show all the calculations. To do that,

  • First of all, make necessary spaces in an Excel sheet with all the required data.
  • Here, in the following picture, you will see the details of every food and beverage item.
  • Consequently, the food item will cost according to the number of plates, and the beverage item will cost according to the number of glasses.

Preparing Data Set with Available Information as An Easy Step to Make Food and Beverage Budget in Excel

Read More: How to Prepare Budget for a Company in Excel (2 Suitable Examples)


Step 2: Calculating Food Cost

Now, I will calculate the cost of the food items in this second stage. Here, with some small and consecutive calculations, I will calculate the necessary food cost. As there are four food items, I will calculate all of their prices in terms of per plate. In order to do that,

  • Firstly, to calculate the price of the total plates of meatballs, insert the following formula in cell E6.
=C6*D6

Calculating Food Cost as An Easy Step to Make Food and Beverage Budget in Excel

  • Then, hit Enter to see the expense for this food item.

  • Secondly, to calculate the expense for the potato skins, type the following formula in cell E7.
=C7*D7

  • After that, to get the result press Enter.

  • Thirdly, write the below-given formula in cell E8 for getting the expense for serving sausage rolls.
=C8*D8

  • Afterward, press Enter and see the value for this particular expense.

  • Lastly, to calculate the expense for the last food items use the following formula in cell E9.
=C9*D9

  • Then, see the result for this calculation by pressing Enter.

  • Finally, to calculate the total food price, use the following formula of the SUM function.
=SUM(E6:E9)

Using SUM Function for Calculating Food Cost as An Easy Step to Make Food and Beverage Budget in Excel

  • Consequently, by pressing Enter after inserting the above formula, you will get the desired value which is $15,843.00.

Read More: How to Calculate Remaining Budget Using Formula in Excel


Step 3: Determining Beverage Cost

Just like in the second stage, I will show you the detailed calculation for determining the beverage cost. Here, two beverage items are available and in the calculation, I will determine their price in terms of per glass. For doing that,

  • First of all, to determine the expense of cold coffee, use the following formula in cell E14.
=C14*D14

Determining Beverage Cost as An Easy Step to Make Food and Beverage Budget in Excel

  • Then, to see the result, press Enter on the keyboard.

  • Secondly, to determine the expense for the second beverage, insert the following formula in cell E15.
=C15*D15

  • Afterward, hit Enter to see the expense in numerical value.

  • Consequently, to determine the total beverage price, in cell E6, write the following SUM function formula.
=SUM(E14:E15)

Applying SUM Function for Calculating Beverage Cost as An Easy Step to Make Food and Beverage Budget in Excel

  • After that, to see the result hit the Enter button.

  • Finally, to determine the total cost of the food and beverage item, apply the following formula in cell E17.
=E10+E16

  • Consequently, after pressing Enter, the formula will show you the desired result which is $19943.00.

Read More: How to Make a Budget in Excel (2 Easy Methods)


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Step 4: Finding Out Additional Cost

Now, I have some additional costs to find out. This will include a 10% service charge on the total cost of food and beverage and the cost of setting up a food station for serving. In order to do that,

  • Firstly, use the following formula in cell E20 to find out the service charge imposed on the total cost of the food and beverage item.
=E17*.1

Finding Out Additional Cost as An Easy Step to Make Food and Beverage Budget in Excel

  • Afterward, see the desired value in the cell after pressing Enter.

  • Secondly, the cost of setting food station for serving is $650.

  • Lastly, to get the value of the total additional cost, add the cell values of E20 and E21 in cell E22 like the following formula.
=E20+E21

  • Consequently, to get the result, hit the Enter button on the keyboard.


Step 5: Showing Final Result

Finally, in the last stage, I will show you the final result of this budget. Here, I will sum up all the necessary values to show the final or total cost for arranging the food and beverage items. For doing that,

  • Firstly, add the total cost of food and beverage and the total additional cost in cell E24 with the following formula.
=E17+E22

Showing Final Result as An Easy Step to Make Food and Beverage Budget in Excel

  • Finally, after pressing Enter, you will get the desired result and you will be able to make a food and beverage item budget in Excel.


Conclusion

That’s the end of this article. I hope you find this article helpful. After reading the above description, you will be able to make a food and beverage budget in Excel. Please share any further queries or recommendations with us in the comments section below.

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Araf

Araf

I am Araf. I have completed my B.Sc in Industrial and Production Engineering from Ahsanullah University of Science and Technology. Currently I am working as an Excel & VBA Content Developer in Softeko. With proper guideline and aid of Softeko I want to be a flexible data analyst. With my acquired knowledge and hard work, I want to contribute to the overall growth of this organization.

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