The Redmon Management Association held it's annual Public relations luncheon in April Year 2. Based on the previous years results, the organization allocated $25,290 of it's operating budget to cover the cost of the luncheon. To ensure that the cost would be properly controlled, Molly hubbard prepared the following budget for the 2 year luncheon.

budget for luncheon based on the following:

The meal cost per person was expected to be $14.50. The cost of the driver for meal was attendance, which was expected to be 1,400 individuals

Postage was based on 0.49 cents per invitation 3,000 invitations expected to be mailed. the cost for driver postage was number of invitations mailed.

The facility charge is $1000 for a room that will accommodate up to 1600; the charge to hold more than 1600 people is $1500

A fixed amount was designated for printing, decorations, the speaker's gift and

Excelshowing all work and formulasto complete the following:

• Prepare a flexible budget.
• Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
• Compute flexible budget variances by comparing the flexible budget with the actual results.

Using Excelshowing all work and formulasto complete the following:

• Prepare a flexible budget.
• Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
• Compute flexible budget variances by comparing the flexible budget with the actual results.