Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thank You! The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting

Thank You!
image text in transcribed
image text in transcribed
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports - the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 50 students enrolled in those two courses. Data concerning the company's cost formulas appear below For example, admintstrative expenses should be $3.270 per month plus $15 per course plus $4 per student. The compary's sales should average $800 per student The company planned to run three courses with a total of 45 students, however, it actually ran three courses with a total of only 42 students. The actual operating results for September were as follows. Required: Prepare a fiexible budget performance repont thot shows both revenue and spending variances and octivity voriances for September. (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.) Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (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.)

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

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th Edition

978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018

More Books

Students also viewed these Accounting questions