Question
Byleth is a part-time employee at a daycare and has responsibility over all food purchases and preparation for the kids. Food costs (snacks for the
Byleth is a part-time employee at a daycare and has responsibility over all food purchases and preparation for the kids. Food costs (snacks for the kids, including peanut butter and jelly sandwiches and fruit) this year were $46,561, which is $239 less than the $46,800 that Byleth's boss?Inkling?budgeted at the beginning of the year (i.e., the static budget), so Inkling is considering giving Byleth a small bonus.
Question 1 to 4: Based on the cost information below, compute the missing variances indicated in the table provided. Be sure to indicate whether the variance is favorable (F) or unfavorable (U).
Budgeted number of snacks 18000 Actual number of snacks served 17500 Standard price Standard quantity Actual price Peanut Bread Butter Jelly $ 5.00 per loaf (20 slices) $ 6.00 per 10 oz jar $ 5.00 per 10 oz. jar Fruit $ 0.50 per piece of fruit $ 2 slices per snack 5.00 per loaf (20 slices) 2.2 slices per snack 1 oz. per snack 1 oz. per snack 2 per snack $ 6.00 per 10 oz jar $ 5.00 per 10 oz. jar $ 1 oz. per snack 1 oz. per snack 0.48 per piece of fruit 35,700 total Actual quantity Enter your responses here: Bread Fruit Price Variance Quantity Variance
Step by Step Solution
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Step: 1
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Step: 2
Step: 3
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