the marketing club at southern university recently held an end of the year dinner and swim party which the treasurer declared to be a financial success attendance was an all time high, 60 members , and the results were much better than expected. The treasurer presented the following performance report at the executive boards June meeting

A) briefly evaluate the meaningfulness of the treasurers report
Answer)
B) prepare a performance report by using flexible budgeting and determine whether the end of year party was as successful as originally reported
C) based on your answer in B present a possible explanation for the variances in revenue, food costs, and the disc jockey

The budget was based on the assumtions that follow
	45 members at fixed price of $35
	food and beverage costs were anticipated to be $15 and $7 per attendee
	a disc jockey was hired via a written contract at $50 per hour

	budget	actual	variance
Revenue	$1,575	$2,205	$630F
food	$675	$870	$195U
beverages	315	480	165U
disc jockey	150	175	25U
facility rental	200	200
total costs	$1,340	$1,725	$385U
profit		$480	$245F