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Gossers Restaurant is analyzing an increase in its food cost. You have been given the following information on the budgeted cost of the most popular
Gossers Restaurant is analyzing an increase in its food cost. You have been given the following information on the budgeted cost of the most popular menu items and an excerpt from the budget and actual results for the month. Menu item Steak frites Pasta marinara Salmon souffle cost per item $12.00 $6.00 $8.00 Menu item Steak frites Pasta marinara Salmon souffle Actual total cost items sold $4,320 320 468 85 155 budget total cost items sold $3,600 300 540 90 1,200 150 1,318 required a) Calculate the cost variance for each item. b) Calculate the quantity variance for each item c) Calculate the total variance for each item
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