red wor Bear Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for the year was based on 2,600 meals, but the diner actually served 2.278 meals. The diner's director has provided the following cost formulas used in this year's original planning (static) budget Groceries Kitchen operations Administrative expenses Fundraising expenses Bear Diner Statement of Expenses For the Year Ended December 31. XXXX Actual meals Groceries Kitchen operations Fixed element per month $0 $4,500 $2,900 $1,300 The director has also provided the diner's statement of actual expenses for the year 4 Administrative expenses Fundraising expenses Variable element per customer $3.61 101 margin of error 2 $1.19 $0.57 $0.00 2,200 $7.950 $7,110 $4,230 $1.270 $20.560 Total expense What is the spending variance for kitchen operations? Report favorable as a positive amount and unfavorable as a negative amount. Round to a whole number.
red wor Bear Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for the year was based on 2,600 meals, but the diner actually served 2.278 meals. The diner's director has provided the following cost formulas used in this year's original planning (static) budget Groceries Kitchen operations Administrative expenses Fundraising expenses Bear Diner Statement of Expenses For the Year Ended December 31. XXXX Actual meals Groceries Kitchen operations Fixed element per month $0 $4,500 $2,900 $1,300 The director has also provided the diner's statement of actual expenses for the year 4 Administrative expenses Fundraising expenses Variable element per customer $3.61 101 margin of error 2 $1.19 $0.57 $0.00 2,200 $7.950 $7,110 $4,230 $1.270 $20.560 Total expense What is the spending variance for kitchen operations? Report favorable as a positive amount and unfavorable as a negative amount. Round to a whole number.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Bear Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for the year was
based on 2,600 meals, but the diner actually served 2,278 meals. The diner's director has provided the following cost formulas
used in this year's original planning (static) budget:
Groceries
Kitchen operations
Administrative expenses
Fundraising expenses
Fixed
Variable
element per element per
month
$0
Actual meals
Groceries
Kitchen operations
$4,500
$2,900
$1,300
Bear Diner
Statement of Expenses
For the Year Ended December 31, XXXX
The director has also provided the diner's statement of actual expenses for the year:
4
101 margin of error 2
customer
$3.61
$1.19
$0.57
$0.00
2,200
$7,950
$7,110
$4,230
$1.270
$20.560
Administrative expenses
Fundraising expenses
Total expense
What is the spending variance for kitchen operations? Report favorable as a positive amount and unfavorable as a negative
amount. Round to a whole number.
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