Take me to the text Using the following information, calculate the static budget, flexible budget and sales-volume variances: Actual Budget Total Revenue Total Food Cost Total Variable Labor Total Fixed Costs Guests Served $798,000 $996,800 $89,000 $108,000 $50,000 $68,000 $180,000 $180,000 202,000 guests 216,000 guests Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Enter all variances as positive values. Actual Operating Income: $ 479000 Budgeted Operating Income: $ 640800 Budgeted CM per guest: S Flexible Budget Operating Income: $ Static-budget Variance: $ 161800 Flexible Budget Variance: $ Sales-volume Variance: $ Unfavourable Unfavourable Unfavourable

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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.