i did this completely wrong. first is what i submitted.

teachers instruction first then what i submitted. please help me fix.

.- Mark Tischler, MBA, Cpa 31.. 4:1?f23. 10:4? PM 0 NEW Hi Everyone. i wanted to touch base regarding the remaining course assignments and. clarifyr what is expected of your submissions so. that you don't lose points unnecessarily. While it is acceptable do submit your assignments in PowerPoint format, you are still required to provide substantial explanations in regard to the assignment requirements. In other words. the content within your PowerPoint presentation would include the same written responses as would be expected in an APA formatted paper. lthen students present an outline format as opposed to responding to the specific questions in in detail. One or two word bullet points are presented as responses without any explanation. This is acceptable when presenting in front of an audience since. you can verbally provide explanations to the audience. However. this type of response does not adequately comply with the assignment requirements. Conversely speaking. if you use the Speaker's Notes function within your presentation you can provide substantial content in the notes to add to each slide of your presentation and meet the requirements of the assignment. For this assignment, refer to the scenario located in "Problems - Series A." section 8-11!!! of Ch. 8. \"Performance Evaluation." of Fundamentals ofMonngerr'ol Accounting Concepts. {Page 3?3 of the text. J This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon. The rst part of the assignment requires you to use Excel. Use Excelshowing all work and formulasto complete the following: - Prepare a exible budget. - Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the exible budget. - Compute exible budget variances by comparing the exible budget with the actual results. Ifyou include your spreadsheet within the presentation you do not have to upload a separate spreadsheet. However. you may do so ifyou like. The following questions require more than several single word bullet points to adequately respond to the questions. - Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the exible budget. - Summarize the results of the exible budget variances computations based on the comparison between the exible budget and the actual results. - Justify the favorable or unfavorable budget variances. - Since this is a not-for-profit organization. address why anyone should be concerned with meeting the budget. - Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations. ,3 Mark Tischler, MBA, Cpa 332-. 4!1?f23.10:l? PM 0 NEW Also. with a flexible budget you only change the variable costs. Those costs that change with increases in activity.J:QL WEWWWEUWLFW the actual budst you use actual units it actual cost. You are looking at the variance as related to changes in activity. not changes in pricing. The change in price is the price variance. So. for this week's Connect problem Meals. postage and facility charges are the variable costs you need to adjust. The Example below shows ctitious units and Standard Costs however: the setup is the same as you will need for this week's signature assignment Assumptions Units: Meals 1.?30 Postage 4.550 Standard Costs: Meals $12.90 Postage $.66 Facility Charge $2.600 [note] the facility charge changes with volume in the case for this week. therefore it is considered a variable cost. 1] Meals: 1.230 3' $12.90 = $22.31?' {2] Postage: 4.550 x $0.66 = $3.003 {3] Facility Charge: $2.600 Actual Costs: Meals $15.50 Postage $.66 Facility Charge: $2.600 1] Meals: 1.230 X $15.50 = $26,815 (2] Postage: 4.550 x $0.66 = $3.003 {3] Facility Charge: $2.600 EV originality Report Question: The Redmon Management Association held it's annual Public relations luncheon in April Year 2. Based on the previous years results, the organization allocated $25,290 of it's o To ensure that the cost would be properly controlled, Molly hubbard prepared the following budget for the 2 year luncheon.budget for luncheon based on the following: Feedback The meal cost per person was expected to be $14.50. The cost of the driver for meal was attendance, which was expected to be 1,400 individuals Postage was based on 0.49 cents per invitation 3,000 invitations expected to be mailed. the cost for driver postage was number of invitations mailed. The facility charge is $1000 for a room that will accommodate up to 1600; the charge to hold more than 1600 people is $1500 A fixed amount was designated for printing, decorations, the speaker's gift. Feedback for student Reasons for the differences between the budgeted and actual data follow. 5/2/23, 7:59 PM 1. The president of the organization, Rodney Snow, increased the invitation list to include 1,000 former members. As a result, 4,000 invitations were mailed. 2. Attendance was 1,620 individuals. Because of higher-than-expected attendance, the luncheon was moved to a larger room, thereby increasing the facility charge to $1,500. 3. At the last minute, Ms. Hubbard decided to add a dessert to the menu, which increased the meal cost to $15.50 per person. Hi Gary, nice work on the spreadsheet comparing the flexible 4. Printing, decorations, the speaker's gift, and publicity costs were as budgeted. budget, (you used the master budget and called it the flexible budget), Requirements: A Prepare a flexible budget. B Compute flexible budget variances by comparing the flexible budget with the actual results. NPV Value example.xIsx . .. C Please see answer for this Scenario below D Since this is a non-profit organization, why should anyone be concerned in meeting the budget. Answer: Show more content A Prepare a flexible budget. Redmon Management Association Annual Public Relations Flexible Budget Expenses Cost Driver Flexible Budget Actual Variance* Nature of Variance Variable Costs Meal cost No. of attendees 20,300.00 25, 110.00 (4,810.00) Unfavorable =14.50x1,400 attendees =14.50x1, 620 attendees Postage No. of invitation 1,470.00 1.960.00 (490.00) Unfavorable =0.49 centsx3,000 invitations =0.49 centsx4,000 invitations Semi-Fixed Cost Facilities No. of attendees 1,000.00 1,500.00 (500.00) Unfavorable =$ 1000 for 1,600 and below =$ 1500 for above 1,600 attendees 0.625 0.9375Variable Cost portion Fixed Cost portion Fixed Cost Printing 950 950 Decorations 840 840 Speaker's gift 130 130 Publicity 600 600 31,090.00 (5,800.00) Budget Deficit Total 25,290.00 B *Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget. Sales Volume Variance Formula: (Actual Volume - Budgeted Volume)xBudgeted Price Variable Cost Volume Variance Formula: (Actual Price - Budgeted Volume)xActual Volume Sales Volume Variance Actual Difference Budgeted Price Variance Costs Flexible Budget Meal cost 1400 1620 (220.00) 14.5 (3,190.00) 4000 0.49 (490.00) Postage 3000 (1,000.00) Facilities 1600 1600 1000 Printing 950 950 Decorations 840 840 Speaker's gift 130 130 Publicity 600 600 (3,680.00) Sales Volume Variance Variable Cost Volume Variance Costs Flexible Budget Actual Difference Actual Volume Variance 14.5 14.5 1,620.00 Meal cost Postage 0.49 0.49 4,000.00 2, 120.00 1600 and above (2,120.00) Facilities (Variable Portion)* worked back Printing 950 950 Decorations 840 840 Speaker's gift 130 130 Publicity 600 600 (2,120.00) Sales Volume Variance B *Compute flexible budget variances by comparing the flexible budget with the actual results. Refer to Column G Total of 5,800 UnfavorableC What I would tell the members of the committee is that there are a lot of factors to consider in purchasing the meal, we can discuss that the meal can be affected by the market I would like to consider reporting all possible scenarios whether we purchase or not. It is important that we communicate the impact of the purchase and non-purchase of the me D Although this is a non-for-profit organization, it is important to note that, meeting the budget is a management accounting concern and not because the organization is for profit c It is important that we keep track of the cost and expenses we incur, and we learn from it by setting up a budget and checking whether we overspent or not. In this case, we are i It may help us to budget our cash flow as well