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Adamyan Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May ww based on 2,800 meals, but the diner actually served 3,000 meals. The diner's director has provided the following cost date to use the budget groceries, $4.30 per meal; kitchen operations, $4,800 per month plus $1.74 per mest administrative expenses $3.300 per month plus $0.39 per meal, and fundraising expenses, $1,800 per month. The director has also provided the diner's state actual expenses for the month: Adamyan Urban Diner Statement of Expenses For the Month Ended May 31 Actual meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense 3,000 $ 12,850 10,000 4,790 1,800 $ 29,440 Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1e, zero wariance). Input all amounts as positive values.

Adamyan Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May ww based on 2,800 meals, but the diner actually served 3,000 meals. The diner's director has provided the following cost date to use the budget groceries, $4.30 per meal; kitchen operations, $4,800 per month plus $1.74 per mest administrative expenses $3.300 per month plus $0.39 per meal, and fundraising expenses, $1,800 per month. The director has also provided the diner's state actual expenses for the month: Adamyan Urban Diner Statement of Expenses For the Month Ended May 31 Actual meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense 3,000 $ 12,850 10,000 4,790 1,800 $ 29,440 Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1e, zero wariance). Input all amounts as positive values.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Adamyan Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May s based on 2,800 meals, but the diner actually served 3,000 meals. The diner's director has provided the following cost data to use in the budget groceries, $4.30 per meal; kitchen operations, $4,800 per month plus $1.74 per meat, administrative expenses $3.800 per month plus $0.39 per meal; and fundraising expenses, $1,800 per month. The director has also provided the diner's statement of actual expenses for the month: Adamyan Urban Diner Statement of Expenses For the Month Ended May 31 Actual meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense Meals Groceries Kitchen operations 3,000 $ 12,850 Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Administrative expenses Fundraising expenses Total expense 10,000 4,790 1,800 $ 29,440 Adamyan Urban Diner Activity Variances For the Month Ended May 31 Flexible Budget Planning Budget 2,800 3,000 Activity Variances
Transcribed Image Text:Adamyan Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May s based on 2,800 meals, but the diner actually served 3,000 meals. The diner's director has provided the following cost data to use in the budget groceries, $4.30 per meal; kitchen operations, $4,800 per month plus $1.74 per meat, administrative expenses $3.800 per month plus $0.39 per meal; and fundraising expenses, $1,800 per month. The director has also provided the diner's statement of actual expenses for the month: Adamyan Urban Diner Statement of Expenses For the Month Ended May 31 Actual meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense Meals Groceries Kitchen operations 3,000 $ 12,850 Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Administrative expenses Fundraising expenses Total expense 10,000 4,790 1,800 $ 29,440 Adamyan Urban Diner Activity Variances For the Month Ended May 31 Flexible Budget Planning Budget 2,800 3,000 Activity Variances
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