AP-7B LO 2 Using the following information, calculate the static budget, flexible budget and sales-volume variances. Actual Budget Total Revenue $120,000 $1 10,000 Total Food Cost 38,400 33,000 Total Variable Labour 48,000 41,800 Total Fixed Costs 19,500 20,000 Guests Served 4.444 3,929AP-sB Peppers is a local Mexican restaurant. The budgeted operating income is 553.000 at the end of 2020. However, the actual operating income totalled only $46,000. Required a) What is the total static budget variance? b] Assume the exible budget operating income was $51,000. Determine total salesvolume variance. c} Referring to part b), determine the total flexible budget variance. AP-QB '.-: John Brinch held a bake sale yesterday. He sold a total of 176 cookies at $1.25 per cookie. If his budgeted selling price was $1.30, what is his selling-price variance? AP-1oB Determine the total variance ifthe price variance is $300,000 F and the quantity variance is $200,000 U. AP-11B Bella Coffee has a budgeted cost of $0.62 per coffee. However, the actual cost of a coffee this year was $0.50. If the company sold a total of 222,000 coffees. what is the cost variance? 190 Flexible Budgeting and Variance Analysis Chapter 1' AP-IzB -_-: Taylor budgeted that he would use $15,000 in food in his restaurant in the month of April. He also estimated that he would serve 300 guests by the end of the month. However, only 750 guesls were served during the month. What is the budgeted cost of food for the actual number of guests served? Alp-133 -_-: The budgeted cost for a bottle of house wine is $13. If a lounge sold 235 bottles and total cost was actually $3.100, what is the cost variance of the wine