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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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