Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (g) Revenue ($4.50g) Expenses: Raw materials ($2.40g) Wages and salaries ($5,200+ $0.30g) Utilities ($2,400 + $0.05g) Facility rent ($4,300) Insurance ($2,300) Miscellaneous ($680 + $0.10g) Total expenses Net operating income Required: Calculate the company's activity variances for July. 17,800 $ 80,100 42,720 10.540 3,290 4,300 2,300 2,460 65,610 $ 14,490 Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavo "None" for no effect (l.e., zero variance). Input all amounts as positive values. Flight Café Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expenses Net operating income S 81.000 U 43,200 F 10,600 F 3 F None None
Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (g) Revenue ($4.50g) Expenses: Raw materials ($2.40g) Wages and salaries ($5,200+ $0.30g) Utilities ($2,400 + $0.05g) Facility rent ($4,300) Insurance ($2,300) Miscellaneous ($680 + $0.10g) Total expenses Net operating income Required: Calculate the company's activity variances for July. 17,800 $ 80,100 42,720 10.540 3,290 4,300 2,300 2,460 65,610 $ 14,490 Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavo "None" for no effect (l.e., zero variance). Input all amounts as positive values. Flight Café Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expenses Net operating income S 81.000 U 43,200 F 10,600 F 3 F None None
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Flight Café
Flexible Budget
For the Month Ended July 31
Budgeted meals (g)
Revenue ($4.50g)
Expenses:
Raw materials ($2.40g)
Wages and salaries ($5,200+ $0.30g)
Utilities ($2,400 + $0.05g)
Facility rent ($4,300)
Insurance ($2,300)
Miscellaneous ($680 + $0.10g)
Total expenses
Net operating income
Required:
Calculate the company's activity variances for July.
17,800
$ 80,100
42,720
10.540
3,290
4,300
2,300
2,460
65,610
$ 14,490
Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavo
"None" for no effect (l.e., zero variance). Input all amounts as positive values.
Flight Café
Activity Variances
For the Month Ended July 31
Revenue
Expenses
Raw materials
Wages and salaries
Utilities
Facility rent
Insurance
Miscellaneous
Total expenses
Net operating income
S
81.000 U
43,200 F
10,600 F
3 F
None
None
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