Actual 2020 Xiao Long Bao

Shop house Supermarket Total

Average qty (service) 1,100 640 1,740

Annual qty sales (310days) 341,000 198,400 539,400

selling price per serving * $5 $5 $5

direct materials per jar ($) 1.90 1.90 1.90

total revenue 1,705,000 992,000 2,697,000

Less :

Direct materials ($) 647,900 376,960 1,024,860

Direct labour ($) 36,256 21,094 57,350

Contribution margin $1,020,844 $593,946 $1,614,790

Master Budget 2020 Xiao Long Bao

no. of servings sold selling price/serving Revenue Direct mat/serving total

DM

Shop house 393,700

Supermarket 179,800

$573,500 $5.00 $2,867,500 $1.74 $997,890

• each serving consists of 6 Xiao long bao

Materials Averg Wt/xiao long bao total wt/day cost/kg cost/day cost/year

Flour 1 11.1 $2 $22.20 6,882.00

Eggs 1 11.1 $3 $33.30 10,323.00

Meat 6 66.6 $22 $1,465.20 454,212.00

Veg 6 66.6 $8 $499.50 154,845.00

Others 9 99.9 $12 $1,198.80 371,628.00

$3,219.00 997,890.00

Acutal Purchased and consumed a total of $490,460 of meat in the year at an average price of $25.00/kg

Xiao Long Bao Actual Exp Variance

Raw Mat 534,399.55 42,133.50 U Price

(19,085.15) F Usage

Total Flexible 23,048.35 U

(32,326.80) F Activity

(9,278.45) F Static

Direct labour 57,350.00 - Rate

3,410.00 U Efficiency

3,410.00 Total Flexible

(3,410.00) F Activity

0.00 Static

Compute the relevant flexible and static variance for xiao long bao sales and meat used in production for the shop house and supermarket respectively.