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4. (G) Harrald's Fish House is a family-owned restaurant that specializes in Scandinavian-style seafood. Data concerning the restaurant's monthly revenues and costs appear below
4. (G) Harrald's Fish House is a family-owned restaurant that specializes in Scandinavian-style seafood. Data concerning the restaurant's monthly revenues and costs appear below ( q refers to the number of meals served): Items Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Formula $16.50q $6.25q $10,400 $800 + $0.20q $2,200 $600 + $0.80q Instructions) a) Prepare the restaurant's planning budget for April assuming that 1,800 meals are served. b) Assume that 1,700 meals were actually served in April. Prepare a flexible budget for this level of activity. c) The actual results for April appear below. Prepare a flexible budget performance report that analyse actual performance and flexible budget performance for the restaurant for April. Items Formula Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscellaneous $2,240
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