Exercise 12-30 Performance Report; Hotel (LO 12-3) The following data pertain to the Waikiki Sands Hotel for the month of March. Flexible Budget March (in thousands)* $ 670 1,840 Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead (83) Fixed overhead (98) *Numbers without parentheses denote profit; numbers with parentheses denote expenses. Food and Beverage Department Banquets & Catering Restaurants Kitchen Total profit Kitchen Required: Based on Exhibit 12-4, prepare a March performance report and use the same data for year-to-date columns in your report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "O" for no effect (i.e., zero variance). Enter your answers in thousands.) Kitchen staff wages Food Paper products Variable overhead Fixed overhead Total expense (93) (710) (137) Flexible Budget March Actual Results March (in thousands)* 682 1,830 Year to Date (94) (714) (134) (86) (105) WAIKIKI SANDS HOTEL Performance Reports for March (In Thousands) March Actual Results Year to Date March Variance Year to Date

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.