The Fleet Highlands Caf is a company that prepares meals for tourists and citizens in its kitchen located next to the local airport. The company's planning and actual budgets for March appears below:

The Fleet Highlands Caf

Planning and actual budgets for the month ended March 31, 2019

PLANNINGACTUAL

Budgeted meals quantity (q)20 00018 000

Revenues (5.00q)100 00090 000

Expenses:

Raw material (2.50q)50 00045 000

Wages and salaries (5 500+0.25q)10 50010 000

Utilities (2 500 + 0.05q)3 5003 400

Facility rent 5 0005 500

Insurance2 8003 200

Fuel2 5002 800

Net Operating Income25 70020 100

QUESTION:

1. Prepare report showing the company's revenue and spending variance for March?