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Seneca College *

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440

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Accounting

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Nov 24, 2024

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2

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11/21/23, 2:27 AM Chapter 7 Post-Class Homework https://www.ameengage.com/mod/quiz/review.php?attempt=4687086&cmid=1260526&page=5 1/2 English (en) English (en) Français - Canada (fr_ca) Dashboard / My courses / [Seneca 09/2023] HTM440NHA - Nardi / CHAPTER 7 - Flexible Budgeting and Variance Analysis / Chapter 7 Post-Class Homework Question 6 Correct Mark 10.00 out of 10.00 Take me to the text Using the following information, calculate the static budget, flexible budget and sales-volume variances: Actual Budget Total Revenue $845,000 $1,017,500 Total Food Cost $91,000 $117,000 Total Variable Labor $52,000 $74,000 Total Fixed Costs $180,000 $180,000 Guests Served 237,000 guests 285,000 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: $ 522000 Budgeted Operating Income: $ 646500 Budgeted CM per guest: $ 2.90 Flexible Budget Operating Income: $ 507300 Static-budget Variance: $ 124500 Flexible Budget Variance: $ 14700 Sales-volume Variance: $ 139200 Unfavourable Favourable Unfavourable Explanation Actual Operating Income: $522,000 Budgeted Operating Income: $646,500 Budgeted CM per guest: $2.90 Flexible Budget Operating Income: $507,300 Static-budget Variance: $124,500 Unfavourable Flexible Budget Variance: $14,700 Favourable Sales-volume Variance: $139,200 Unfavourable Correct Marks for this submission: 10.00/10.00.
11/21/23, 2:27 AM Chapter 7 Post-Class Homework https://www.ameengage.com/mod/quiz/review.php?attempt=4687086&cmid=1260526&page=5 2/2 Français (fr)
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