Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below:
Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: Help Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90g) Expenses: Raw materials ($2.00g) Wages and salaries ($6,500 +$0.20q) Utilities ($2,100 +$0.05g) Facility rent ($3,800) Insurance ($2,800) Miscellaneous ($300 +$0.10g) Total expense Net operating income. 23,000 $ 89,700 46,000 11,100 3,250 3,800 2,800 2,600 69,550 $ 20,150 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90g) Expenses: Raw materials ($2.00g). Wages and salaries ($6,500+ $0.20) Utilities ($2,100 + $0.05g) Facility rent ($3,800) Insurance ($2,800) Miscellaneous ($300 +$0.10g) Total expense Net operating income 24,000 $ 93,600 48,000 11,300 3,300 3,800 2,800 2,700 71,900 $ 21,700
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started