Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the following information, calculate the static budget, flexible budget and sales-volume variances: Actual Budget Total Revenue $917,000 $1,021,400 Total Food Cost $104,000 $85,000 Total

Using the following information, calculate the static budget, flexible budget and sales-volume variances:

Actual Budget
Total Revenue $917,000 $1,021,400
Total Food Cost $104,000 $85,000
Total Variable Labor $65,000 $51,000
Total Fixed Costs $180,000 $180,000
Guests Served 227,000 guests 233,000 guests

Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Enter all variances as positive values. Actual Operating Income: $Answer Budgeted Operating Income: $Answer Budgeted CM per guest: $Answer Flexible Budget Operating Income: $Answer Static-budget Variance: $Answer AnswerFavourableUnfavourable Flexible Budget Variance: $Answer AnswerFavourableUnfavourable Sales-volume Variance: $Answer Answer

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

Accounting, The Financial Chapters

Authors: Tracie Miller Nobles

12th Edition

013449041X, 9780134490410

More Books

Students also viewed these Accounting questions

Question

1. To understand how to set goals in a communication process

Answered: 1 week ago