Stuffed restaurant has the following results for December 2012 Required: (a) Calculate the flexed budget. (b) Calculate

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Stuffed restaurant has the following results for December 2012

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Required:

(a) Calculate the flexed budget.

(b) Calculate the sales price variance.

(c) Calculate the overall cost variances for materials, labour, variable overheads and fixed overheads.

(d) Calculate the sales quantity variance.

(e) Discuss the variances. In particular, highlight what extra information might be needed.

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Accounting

ISBN: 9781119977186

3rd Edition

Authors: Michael J. Jones

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Question Posted: May 20, 2024 09:01 AM

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Stuffed restaurant has the following results for December 2012 Required: (a) Calculate the flexed budget. (b) Calculate

Question:

Budget Actual Number of meals 10,000 12,000 Price per meal 10.00 10.60 Food cost 30,000 37,200 Labour cost 35,000 36,000 Variable overheads 5,000 6,000 Fixed overheads 3,000 3,100

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Accounting

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