BudgetsQuestion 1.A manager had the following operating budget and achieved the actual results shown.Calculate the variance and variance percentage for each line item. Then answer the questionsthat follow.SalesBudgetActualVarianceFood$500,000$550,000Beverage|50,000165,000$650,000Total SalesTotal ControllableExpenseTotal Fixed Expense450,000495,000135,000135,000Profit (Loss)$65,000What is your assessment of this operation's expense control performance during thisbudget period?2. Why are managers who are skilled at controlling expenses in such high demand in thehospitality industry?WAPR

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Budgets Question 1. A manager had the following operating budget and achieved the actual results shown. Calculate the variance and variance percentage for each line item. Then answer the questions that follow. Sales Budget Actual Variance % Food $500,000 $550,000 Beverage 150,000 165,000 Total Sales $650,000 Total Controllable Expense Total Fixed Expense 450,000 495,000 135,000 135,000 Profit (Loss) $65,000 What is your assessment of this operation's expense control performance during this budget period? 2. Why are managers who are skilled at controlling expenses in such high demand in the hospitality industry?

Budgets Question 1. A manager had the following operating budget and achieved the actual results shown. Calculate the variance and variance percentage for each line item. Then answer the questions that follow. Sales Budget Actual Variance % Food $500,000 $550,000 Beverage 150,000 165,000 Total Sales $650,000 Total Controllable Expense Total Fixed Expense 450,000 495,000 135,000 135,000 Profit (Loss) $65,000 What is your assessment of this operation's expense control performance during this budget period? 2. Why are managers who are skilled at controlling expenses in such high demand in the hospitality industry?

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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