Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning and control purposes. It uses the number of burritos sold as its revenue and cost driver. The monthly planning budget amounts for the month of July are given in the table below and Its revenue and cost functions (formulas) are given in the left-hand column. You should use this performance report template to help you answer the question given below the template Your first step (if completing the template sent to you by e-mail) is to fill in the "Actual Results" column (for July). Actual Results Revenue & Spending Variances Flexible- | budget Activity Variances Planning Static) Budget Total Varlance Burritos sold (9) 19,000 20,000 $80.000 Revenue ($4.00 Expenses: COGS ($1.50q) Wages and salarles ($8,000 - $.50g) $31.000 $16.000 $30.000 $18.000 Supplies ($.250) $5.000 $2.100 $2.000 Insurance ($2,000) $5.400 Miscellaneous costs ($.300) $6.000 Total expenses $59.100 851000 Net operating Income | $19.900 $19.000 Calculate the "Total Variance for "Wages & salaries" expense. Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning and control purposes. It uses the number of burritos sold as its revenue and cost driver. The monthly planning budget amounts for the month of July are given in the table below and its revenue and cost functions (formulas) are given in the left-hand column. You should use this performance report template to help you answer the question given below the template Your first step (if completing the template sent to you by e-mail) is to fill in the "Actual Results" column (for July). Total Actual Results Flexible | budget Activity Variances Spending Variances Variance Planning (Static) Budget 20.000 Burritos sold (9) $79.000 Revenue $4009 $80.000 Expenses COGS ($1.500) Wages and salaries ($8,000 - $.50) $31,000 $16.000 $30.000 $18.000 Supplies (5.250) $4,600 $5.000 $2,100 $2.000 Insurance $2.000) $5.400 Miscellaneous costs $.30a) $6.000 Total expenses $59.100 S61000 $19.000 Net operating Income Calculate the "Total expenses activity variance (le the sum of all expense activity variances). O O $2.550 F O O $2.550 U Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning and control purposes. It uses the number of burritos sold as its revenue and cost driver. The monthly planning budget amounts for the month of July are given in the table below and its revenue and cost functions (formulas) are given in the left-hand column. You should use this performance report template to help you answer the question given below the template Your first step (if completing the template sent to you by e-mail) is to fill in the "Actual Results" column (for July). Total Actual Results Flexible | budget Activity Variances Spending Variances Variance Planning (Static) Budget 20.000 Burritos sold (9) $79.000 Revenue $4009 $80.000 Expenses COGS ($1.500) Wages and salaries ($8,000 - $.50) $31,000 $16.000 $30.000 $18.000 Supplies (5.250) $4,600 $5.000 $2,100 $2.000 Insurance $2.000) $5.400 Miscellaneous costs $.30a) $6.000 Total expenses $59.100 S61000 Net operating $19.900 Income Assume the company reports the following in the month of August (the next month), with the Revenue and COGS functions (formulas) the same as given in the template [L.e. the "Revenue" formula is $4.00q and the COGS formula is $1.500l. planning budget quantity actual number of units sold e sold actual results for Sales actual results for COGS 22.000 $83.600 $32.560 Calculate the revenue and spending" variance for "COGS" (the $1.50q line). 0 0 0 0 $440 F
