Question $4$

$61$

Points

Prepare a Flexible Budget Analysis

Based on the calculations made thus far and the prepared Budgeted Income Statement for "Rest Assured", prepare a Flexible Budget Analysis using the following table.

Round all numbers to the nearest whole number with the exception of Revenue$/$Cost per Unit$/$Guest which can be rounded to two decimal places. Use $($brackets$)$ for negative numbers when appropriate. Do not include commas or decimals.

NOTE: The second Blank $1$ in the variance columns are meant to be populated with a $"$U$"$ for and unfavourable variance or $"$F$"$ for a favourable variance. Please refer to the "Sample Row" for correct formatting.

Rest Assured

Flexible Budget Analysis

For the Month Ending January $31,2022$

$$

$$Actual Results

$$Flexible Budget Variance

$$Flexible Budget

$$Sales$-$Volume Variance

Static Budget$$

Revenue$/$Cost per Unit$/$Guest$$

$$SAMPLE ROW

$$$$133000$

$$$$1200$ U

$$$$134200$

$$$$3256$ F

$$$$130944$

$$

$$Rooms Sold

$975$

$$

Blank $2$

Blank $3$ Blank $4$

Blank $5$

$$

$$Room Revenue

$105,750$

$$Blank $6$ Blank $7$

$$Blank $8$

$$Blank $9$ Blank $10$

$$102,300$

$$$$110$

$$Restaurant Guests Served

$940$

$$

Blank $11$

$$Blank $12$ Blank $13$

$$Blank $14$

$$

$$Restaurant Revenue

$16,290$

$$Blank $15$ Blank $16$

$$ Blank $17$

$$ Blank $18$ Blank $19$

$$$$15,810$

$$$$17$

$$Total Revenue

$122,040$

$1,190$ U

$123,230$

$5,120$ F

$118,110$

$$

$$

$$

$$

$$

$$

$$

$$

$$Variable Costs

$$

$$

$$

$$

$$

$$

$$Housekeeping Wages Expense

$17,523$

$$Blank $20$ Blank $21$

$$Blank $22$

$$Blank $23$ Blank $24$

$15,392$

$$Blank $25$

$$Cost of Sales $($food & beverage$)$

$5,103$

$$Blank $26$ Blank $27$

$$Blank $28$

$$Blank $29$ Blank $30$

$4,743$

$$Blank $31$

Restaurant Wages Expense

$6,072$

$$ Blank $32$ Blank $33$

$$ Blank $34$

$$ Blank $35$ Blank $36$

$6,157$

$$Blank $37$

$$Total Variable Costs

$28,698$

$1,545$ U

$27153$

$861$ U

$26,292$

$$

$$

$$

$$

$$

$$

$$

$$

$$Rooms Contribution Margin

$88,227$

$$Blank $38$ Blank $39$

$$Blank $40$

$$Blank $41$ Blank $42$

$$Blank $43$

$$Blank $44$

$$Restaurant Contribution Margin

$5,115$

$$ Blank $45$ Blank $46$

$$ Blank $47$

$$ Blank $48$ Blank $49$

Blank $50$

$$Blank $51$

$$Total Contribution Margin

$93,342$

$2,735$ U

$$ Blank $52$

$4,259$ F

$91,818$

$$

$$

$$

$$

$$

$$

$$

$$

$$Fixed Costs

$$

$$

$$

$$

$$

$$

$$Management Salaries Expense

$13,273$

$$Blank $53$ Blank $54$

$15,000$

$$N$/$A

$15,000$

$$

$$Utilities Expense

$8,741$

$$Blank $55$ Blank $56$

$10,000$

$$N$/$A

$10,000$

$$

$$Property Taxes Expense

$1,982$

$$Blank $57$ Blank $58$

$1,750$

$$N$/$A

$1,750$

$$

$$Insurance Expense

$2,287$

$$Blank $59$ Blank $60$

$2,350$

$$N$/$A

$2,350$

$$

$$Property Lease Expense

$37,516$

$-$

$37,516$

$$N$/$A

$37,516$

$$

$$Marketing Expense

$2,719$

$$Blank $61$ Blank $62$

$2,500$

$$N$/$A

$2,500$

$$

$$Total Fixed Costs

$66,518$

$2,598$ F

$69,116$

N$/$A$$

$69,116$

$$

$$

$$

$$

$$

$$

$$

$$

$$Income from Operations

$$$$26,824$

$$$$137$ F

$$$$26,961$

$4,259$ F

$$$$22,702$

$$

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