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Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price cf $29 per case. The following information relates to the
Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price cf $29 per case. The following information relates to the budget for Divine Muffins for this year (all figures are annual totals unless otherwise noted): E (Click the icon to view the budget information.) Requirement Construct a flexible budget performance report for Divine Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "D". A variance of zero is considered favorable.) During the year, Divine Muffins actually sold 9.200 cases, resulting in total sales revenue of $275,000. Actual expenses (in total) from this year are as follows: E (Click the icon to view the actual expenses.) Actual expense Data Table Budget info Data Table Divine Muffins s and Operating Expenses Data Table Data Table mber 31 ble Flexible bet Budget Volume 9,700 Packaging cost 8.700 cases Budgeted sales in cases 9,200 cases Variance hce 47.800 Shipping expense. Packaging cost per case Sales Sales commission expense 8,250 Shipping expense per case (S2 Salaries exxpense 6.800 3% of sales price Sales commission expense Varia Office rent. 3.800 6,300 Salaries expense Depreciation. 3.200 $ 3,600 Office rent. Insurance expense 1,300 3,200 Depreciation. Office supplies expense 1.400 $ 2.,000 Insurance expense Foed 1,300 Office supplies expense Print Done Print Done reperst Office Supplies expense Total operating expenses Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price of $20 per case. The following information relates to the budget for Divine Muffins for this year (all figures are annual totals unless otherwise noted): Click the icon to view the budget information.) During the year, Divine Muffins actually sold 9,200 cases, resulting in total sales revenue of $275,000. Actual expenses (in total) from this year are as follows: E (Click the icon to view the actual expenses.) Requirement Construct a flexible budget performance report for Divine Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "D". A variance of zero is considered favorable.) Divine Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Master Flexible Actual Budget Budget Budget Volume 9,200 cases 8,700 cases Variance 9,200 cases Variance Sales revenue (S29 per case) Variable operating expenses: Packaging expense ($1 per case sold) Shipping expense ($5 per case sold) Sales commissions (3% of sales price) Fixed operating expenses: Salaries Office rent Depreciation Insurance expense Office Supplies expense Total operating expenses
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