Ruby Krisher Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May was based on 3,900 meals, but the diner actually served 4,100 meals. The diner's director has provided the following cost data to use in the budget groceries, $4.85 per meal; kitchen operations, $5,900 per month plus $1.85 per meal, administrative expenses, $4,900 per month plus $0.50 per meal; and fundraising expenses, $2,900 per month. Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May. Note: Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense Rub Krisher Diner Activity Variances For the Month Ended May 31 Flexible Budget Planning Budget 4,100 3,900 Activity Variances

Ruby Krisher Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for May was based on 3,900 meals, but the diner actually served 4,100 meals. The diner's director has provided the following cost data to use in the budget groceries, $4.85 per meal; kitchen operations, $5,900 per month plus $1.85 per meal, administrative expenses, $4,900 per month plus $0.50 per meal; and fundraising expenses, $2,900 per month. Required: Prepare a report showing the activity variances for each of the expenses and for total expenses for May. Note: Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense Rub Krisher Diner Activity Variances For the Month Ended May 31 Flexible Budget Planning Budget 4,100 3,900 Activity Variances

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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