Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

sFlight 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

sFlight 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 Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.30g) Expenses: Raw materials ($1.90q) Wages and salaries ($6,000 + $0.209) Utilities ($1,800 + $0.05q) Budgeted meals (g) Revenue ($4.30q) Facility rent ($3,200) Insurance ($2,900) Miscellaneous ($800 + $0.109) Total expense Net operating income In July, 22,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Expenses: Raw materials ($1.90q) Wages and salaries ($6,000+ $0.209) Utilities ($1,800 + $0.05q) Facility rent ($3,200) Insurance ($2,900) Miscellaneous ($800 + $0.10g) Total expense Net operating income 21,000 $ 90,300 39,900 10,200 2,850 3,200 2,900 2,900 61,950 $ 28,350 Flight Caf Activity Variances For the Month Ended July 31 22,000 $ 94,600 41,800 10,400 2,900 3,200 2,900 3,000 64,200 $ 30,400 Required: 1. Calculate the company's activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
image text in transcribed
image text in transcribed
Fight Cafe prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below In July, 22,000 meals were actually served. The company's flexible budget for this level of activity appears below: Required: 1. Calculate the company's activity variances for July, (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfovorable, and "None" for no effect (L.e., zero voriance), Input all amounts as positive values.) Required: 1. Calculate the company's activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovoroble, and "None" for no effect (i.e., zero varionce). Input all omounts os positive volues.)

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

More Books

Students also viewed these Accounting questions

Question

L A -r- P[N]

Answered: 1 week ago

Question

Technology. Refer to Case

Answered: 1 week ago