Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
image text in transcribed
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 Cate Planning Budget For the Month Ended: July 31 Budgeted meals (9) 27,000 $100.000 Revenge (54.009) Expenses: Raw materials (52.009) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 - $0.059) Facility rent ($3,000) Insurance ($2,300) Miscellaneous ($700 + $0.109 Total expense Net operating income 34,000 11,700 3,250 3,000 2,300 3,400 77.650 $ 30,350 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below: 20,000 $112,000 Flight Cafe Flexible Budget For the Month Ended July 31 udgeted meals (9) Revenge ($4.000) expenses Raw materials (52.000) Wages and salaries (56,300+ $0.209) Utilities (61,900 - 00.059) Theility cont (53,000) Tssurance (52.300) incollaneous (5700 50.100) Total expense Hot Operating Incom 56.000 11.900 3,300 3,000 2.300 3.500 00.000 $ 12,000 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Required: 1. Calculate the company's activity variances for July (Indicate the effe unfavorable, and "None" for no effect (i.e., zero variance). Input all ar Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud Analytics Using Descriptive Predictive And Social Network Techniques A Guide To Data Science For Fraud Detection

Authors: Bart Baesens, Veronique Van Vlasselaer, Wouter Verbeke

1st Edition

1119133122, 978-1119133124

More Books

Students also viewed these Accounting questions

Question

how do i do this? finance

Answered: 1 week ago