run two courses in a month and have a total of 61 The Gourmand Cooking School runs short cooking courses at its small campus Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a students enrolled in those two courses. Data concerning the company's cost formulas appear below. Instructor wages Classroom supples Unites Campus rent Insurance Administrative expenses Cost per Fixed Cost per Morth Cost per Course Student $ 1,210 $ 4.700 2.200 3,700 $ 2.940 $290 50 For example, administrative expenses should be $3,700 per month plus $45 per course plus $4 per student. The company's sales should average $880 per student The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supples Actual $ 50,780 $ 11,040 $ 17,540 Ubites $ 1,820 Campus rent $ 4,700 Insurance $ Administrative expenses $ 2.340 3.554 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive value Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Courses Students 4 55 Revenue Expenses Instructor wages $ 50,780 11,040 Classroom supplies 17,540 Utibles 1,820 Campus rent 4,700 Insurance 2,340 Administrative expenses 3,554 Total expense 40.994 Net operating income $ 9,786 Flexible Planning Budget Budget
run two courses in a month and have a total of 61 The Gourmand Cooking School runs short cooking courses at its small campus Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a students enrolled in those two courses. Data concerning the company's cost formulas appear below. Instructor wages Classroom supples Unites Campus rent Insurance Administrative expenses Cost per Fixed Cost per Morth Cost per Course Student $ 1,210 $ 4.700 2.200 3,700 $ 2.940 $290 50 For example, administrative expenses should be $3,700 per month plus $45 per course plus $4 per student. The company's sales should average $880 per student The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supples Actual $ 50,780 $ 11,040 $ 17,540 Ubites $ 1,820 Campus rent $ 4,700 Insurance $ Administrative expenses $ 2.340 3.554 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive value Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Courses Students 4 55 Revenue Expenses Instructor wages $ 50,780 11,040 Classroom supplies 17,540 Utibles 1,820 Campus rent 4,700 Insurance 2,340 Administrative expenses 3,554 Total expense 40.994 Net operating income $ 9,786 Flexible Planning Budget Budget
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5TIF: The following situations describe scenarios that could use managerial accounting information: a. The...
Related questions
Question
![The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 61
students enrolled in those two courses. Data concerning the company's cost formulas appear below.
Instructor wages
Classroom supplies
Utilities
Campus rent
Insurance
Administrative expenses
Cost per
Fixed Cost per Month Cost per Course Student
2,940
$ 290
1,210 $
50
4,700
2,200
3,700 $
46 $
For example, administrative expenses should be $3,700 per month plus 546 per course plus $4 per student. The company's sales should average $880 per student.
The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below.
Revenue
Actual
50,780
Instructor wages
$
11,040
Classroom supplies
S
17,540
Utilities
$
1,820
Campus rent
S 4.700
Insurance
$
Administrative expenses
$
2,340
3.554
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero variance). Input all amounts as positive values.)
Gourmand Cooking School
Flexible Budget Performance Report
For the Month ended September 30
Actual Results
Courses
Students
4
55
Revenue
$
50,780
Expenses
Instructor wages
11,040
Classroom supplies
17,540
Utilities
1,820
Campus rent
4,700
Insurance
2,340
Administrative expenses
3,554
Total expense
40,994
Net operating income
9,786
Flexible
Planning
Budget
Budget](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75e0e855-331f-4806-aa93-4d502237b14c%2Ff2ab4d63-ee37-4350-b599-f4c92502fd6c%2Fy5beir_processed.png&w=3840&q=75)
Transcribed Image Text:The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 61
students enrolled in those two courses. Data concerning the company's cost formulas appear below.
Instructor wages
Classroom supplies
Utilities
Campus rent
Insurance
Administrative expenses
Cost per
Fixed Cost per Month Cost per Course Student
2,940
$ 290
1,210 $
50
4,700
2,200
3,700 $
46 $
For example, administrative expenses should be $3,700 per month plus 546 per course plus $4 per student. The company's sales should average $880 per student.
The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below.
Revenue
Actual
50,780
Instructor wages
$
11,040
Classroom supplies
S
17,540
Utilities
$
1,820
Campus rent
S 4.700
Insurance
$
Administrative expenses
$
2,340
3.554
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero variance). Input all amounts as positive values.)
Gourmand Cooking School
Flexible Budget Performance Report
For the Month ended September 30
Actual Results
Courses
Students
4
55
Revenue
$
50,780
Expenses
Instructor wages
11,040
Classroom supplies
17,540
Utilities
1,820
Campus rent
4,700
Insurance
2,340
Administrative expenses
3,554
Total expense
40,994
Net operating income
9,786
Flexible
Planning
Budget
Budget
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College