Flight Café prepares in-flight meals for airlines and its planning budget for July appears below:Flight CaféPlanning BudgetFor the Month Ended July 31Budgeted meals (g)Revenue ($3.98q)Expenses:Raw materials ($2.289)Wages and salaries ($6,300 + $0.209)Utilities ($1,900 + $0.059)Facility rent ($3,300).Insurance ($2,200)Miscellaneous ($800 +$0.109)Total expensesNet operating income26,000$ 101,40057,20011,5003,2003,3002,2003,40080,800$ 20,600In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below:Budgeted meals (q)Revenue ($3.90q)Expenses:Flight CaféFlexible BudgetFor the Month Ended July 31Raw materials ($2.209)Wages and salaries ($6,300+ $0.209)Utilities ($1,900 +$0.059)Facility rent ($3,300)Insurance ($2,200)Miscellaneous ($800 +$0.109)Total expensesNet operating incomeRequired:1. Calculate the company's activity variances for July.27,000$ 105,30059,40011,7003,2503,3002,2003,50083,350$ 21,950Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zerovarlance). Input all amounts as positive values.RevenueExpenses:Raw materialsWages and salariesUtilitiesFacility rentInsuranceMiscellaneousFlight CaféActivity VariancesFor the Month Ended July 31

Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.909) Expenses: Raw materials ($2.289) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 $0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income 26,000 $ 101,400 57,200 11,500 3,200 3,300 2,200 3,400 80,800 $ 20,600

Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.909) Expenses: Raw materials ($2.289) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 $0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income 26,000 $ 101,400 57,200 11,500 3,200 3,300 2,200 3,400 80,800 $ 20,600

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 2PA: Sales, production, direct materials purchases, and direct labor cost budgets The budget director of...

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