In part 3 of Case 2a, your team put together a planning budget for the next month. It is now the end of the month and it is time to use that planning budget to put together a performance report. The report has been filled in for you. Estimated Quantity 5000 1 Actual Quantity 4500 1 1.5 1.25 1 1 2 1 28 26 Estimated Costs for July 2020 Estimated Prices Selling price and sales estimate per large Snowie $5.00 Ice per Snowie $0.20 Spoon straw (need one per Snowie) $0.02 Styrofoam cup (need one per Snowie) $0.08 Napkin (need two per Snowie) $0.01 Servings per gallon of syrup 28 Cost per gallon of syrup (includes concentrate, preservative, and sugar) $8.00 Hourly rate for workers $10.00 Event registration fee per day $25.00 Electricity, insurance, maintenance, and permit costs per month $250.00 Kiosk rental cost per month $650.00 Purchase cost of two ice shavers (5-year life) $3,180.00 Purchase cost of a flavor station (5-year life) $1,080.00 Actual Prices $5.25 $0.15 $0.03 $0.10 $0.01 26 $10.00 $10.00 $25.00 $275.00 $650.00 $3,180.00 $1,080.00 28 26 25 Assumptions from 2a (please use these not what you used in 2a) a. Number of days you anticipate opening the kiosk per month b. Number of hours you will work (no wages required) per day c. Number of hours you will pay an employee to work in the kiosk pero d. Number of Snowies you estimate you will sell on an average day 8 8 200 Part 4 Question 1: Complete the Performance Report Snowies Performance Report July 2021 Quantity Variance Activity Variance U/F Price Variance U/F U/F U/F Actual Budget Spending Variance 4500 $23,625.00 $1,125.00 F Quantity Sold Sales revenue TC10 Budget 4500 $23,625.00 Planning Budget 5000 $25,000.00 Flex Budget 4500 $22,500.00 $2,500.00 U $0.80 $0.97 Variable expenses: Ice expense Spoon straws Styrofoam cups Napkins Syrup Total variable expenses $675.00 $202.50 $562.50 $45.00 $1,730.77 $3,215.77 $225.00 F $112.50 U $202.50 U $45.00 F $445.05 U $490.05 U $0.05 $0.02 $0.03 $0.00 $900.00 $135.00 $450.00 $45.00 $1,384.62 $2,914.62 $900.00 $90.00 $360.00 $90.00 $1,285.71 $2,725.71 $100.00 F $10.00 F $40.00 F $10.00 F $142.86 F $302.86 F $1,000.00 $100.00 $400.00 $100.00 $1,428.57 $3,028.57 Fixed expenses: Wages for workers Event registration fees Kiosk rental cost Depreciation - ice shavers Depreciation - flavor station Insurance, electrical, etc. Total fixed expenses Operating income - $2,000.00 $625.00 $650.00 $53.00 $18.00 $275.00 $3,621.00 $16,788.23 $0.00 $0.00 $0.00 $0.00 $0.00 $25.00 U $25.00 U $609.95 F. $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $17,114.38 $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $16,178.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2,197.14 U $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $18,375.43 In part 3 of Case 2a, your team put together a planning budget for the next month. It is now the end of the month and it is time to use that planning budget to put together a performance report. The report has been filled in for you. Estimated Quantity 5000 1 Actual Quantity 4500 1 1.5 1.25 1 1 2 1 28 26 Estimated Costs for July 2020 Estimated Prices Selling price and sales estimate per large Snowie $5.00 Ice per Snowie $0.20 Spoon straw (need one per Snowie) $0.02 Styrofoam cup (need one per Snowie) $0.08 Napkin (need two per Snowie) $0.01 Servings per gallon of syrup 28 Cost per gallon of syrup (includes concentrate, preservative, and sugar) $8.00 Hourly rate for workers $10.00 Event registration fee per day $25.00 Electricity, insurance, maintenance, and permit costs per month $250.00 Kiosk rental cost per month $650.00 Purchase cost of two ice shavers (5-year life) $3,180.00 Purchase cost of a flavor station (5-year life) $1,080.00 Actual Prices $5.25 $0.15 $0.03 $0.10 $0.01 26 $10.00 $10.00 $25.00 $275.00 $650.00 $3,180.00 $1,080.00 28 26 25 Assumptions from 2a (please use these not what you used in 2a) a. Number of days you anticipate opening the kiosk per month b. Number of hours you will work (no wages required) per day c. Number of hours you will pay an employee to work in the kiosk pero d. Number of Snowies you estimate you will sell on an average day 8 8 200 Part 4 Question 1: Complete the Performance Report Snowies Performance Report July 2021 Quantity Variance Activity Variance U/F Price Variance U/F U/F U/F Actual Budget Spending Variance 4500 $23,625.00 $1,125.00 F Quantity Sold Sales revenue TC10 Budget 4500 $23,625.00 Planning Budget 5000 $25,000.00 Flex Budget 4500 $22,500.00 $2,500.00 U $0.80 $0.97 Variable expenses: Ice expense Spoon straws Styrofoam cups Napkins Syrup Total variable expenses $675.00 $202.50 $562.50 $45.00 $1,730.77 $3,215.77 $225.00 F $112.50 U $202.50 U $45.00 F $445.05 U $490.05 U $0.05 $0.02 $0.03 $0.00 $900.00 $135.00 $450.00 $45.00 $1,384.62 $2,914.62 $900.00 $90.00 $360.00 $90.00 $1,285.71 $2,725.71 $100.00 F $10.00 F $40.00 F $10.00 F $142.86 F $302.86 F $1,000.00 $100.00 $400.00 $100.00 $1,428.57 $3,028.57 Fixed expenses: Wages for workers Event registration fees Kiosk rental cost Depreciation - ice shavers Depreciation - flavor station Insurance, electrical, etc. Total fixed expenses Operating income - $2,000.00 $625.00 $650.00 $53.00 $18.00 $275.00 $3,621.00 $16,788.23 $0.00 $0.00 $0.00 $0.00 $0.00 $25.00 U $25.00 U $609.95 F. $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $17,114.38 $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $16,178.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2,197.14 U $2,000.00 $625.00 $650.00 $53.00 $18.00 $250.00 $3,596.00 $18,375.43