Assume that The AM Bakery is preparing a budget for the month ending December 31, Management prepares the budget for the month ending December 31 by starting with the actual results for August that is shown below. Then, management considers what the differences in costs will be between August and December THE AK BAKERY Bakery sales Actual and Budgeted Coats For the Month Ending August 31 Actual Ingredients Flour 3,990 Butter 3,580 011 1,790 Fruit 3,300 900 Chocolate 80 Other 400 Total ingrediants 813,060 Labor Channel manager 5,300 Other 10,780 Utilities 2,720 Hank 3,920 Marketing 200 Total bakery costs 35,980 Reven 53,000 Management expects revenue to be 100 percent greater in December than in August because of the holiday season. Management expects that all food costs (eg. flour, butter, and so on) will be 120 percent higher in December than in August because of the increase In sales and because prices for ingredients are generally higher in the high demand holiday months. Management expects "other" labor costs to be 130 percent higher in December than in August, partly because more labor will be required in December and partly because employees will get a pay raise. The manager will get a pay raise that will increase his salary from $5,300 in April to $6,600 in December Utilities will be 15 percent higher in December than in August. Rent and marketing will be the same in December as in August Now, move ahead to January of the following year and assume the following actual results occurred in December Required: Prepare a statement that compares the budgeted and actual costs. (Negative amounts should be indicated by a minus sign) THE AM BAKERY Bakery sales Actual and Budgeted Costs For the Month Ending December 31 Actual Ingredients Four Buter O Frut Nu Chocolate Other 7840 4001 2,197 2292 170 1010 528755 Labor Channel manager Oth S 800 24.961 4,045 3920 Marketing Try 10 104400 Budgeted Difference