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.
5 Easy Steps to Make Food and Beverage Budget in Excel
In this article, you will see five easy steps to make a 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.
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 the 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.
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.
- 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.
- 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.
- 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.
- 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.
- Consequently, by pressing Enter after inserting the above formula, you will get the desired value which is $15,843.00.
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. To do that,
- First of all, to determine the expense of cold coffee, use the following formula in cell E14.
- 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.
- 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.
- 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.
- Consequently, after pressing Enter, the formula will show you the desired result which is $19943.00.
Read More: How to Create Renovation Budget in Excel
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 beverages 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.
- 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.
- 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. To do that,
- Firstly, add the total cost of food and beverage and the total additional cost in cell E24 with the following formula.
- 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.
Download Practice Workbook
You can download the free Excel workbook here and practice on your own.
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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