The following data pertain to the Waikiki Sands Hotel for the month of March.Banquets and CateringRestaurantsthousands)*$ 6941,848(98)(720)(726)(143)(140)(87)(90)(102)(111)*Numbers without parentheses denote profit; numbers with parentheses denote expenses.Required:Based on Exhibit 12-4, prepare a March performance report. For the year-to-date columns in your report, use the data given in Exhibit12-4. You will need to update those figures using the March data given above.Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "O" for noeffect (1.e., zero variance). Enter your answers in thousands.Kitchen staff wagesFoodPaper productsVariable overheadFixed overheadFood and Beverage DepartmentBanquets & CateringRestaurantsKitchenTotal profitKitchenFlexible Budget March (in Actual Results March (inthousands)*$ 680Kitchen staff wagesFoodPaper productsVariable overheadFixed overheadTotal expense1,860(97)Flexible BudgetMarchYear to DateWAIKIKI SANDS HOTELPerformance Reports for March(In Thousands)Actual ResultsMarchYear to DateMarchVarianceYear to DateFavorrableNoneUnfavorable

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The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget March (in Actual Results March (in thousands)* $ 680 1,860 (97) (720) (143) (87) (102) thousands)* $ 694 1,848 (98) (726) (140) (90) (111)

The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget March (in Actual Results March (in thousands)* $ 680 1,860 (97) (720) (143) (87) (102) thousands)* $ 694 1,848 (98) (726) (140) (90) (111)

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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Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport. The company’s planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) 27,000 Revenue ($4.00q) $ 108,000 Expenses: Raw materials ($2.00q) 54,000 Wages and salaries ($6,200 + $0.20q) 11,600 Utilities ($2,100 + $0.05q) 3,450 Facility rent ($3,500) 3,500 Insurance ($2,000) 2,000 Miscellaneous ($700 + $0.10q) 3,400 Total expense 77,950 Net operating income $ 30,050 In July, 28,000 meals were actually served. The company’s flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (q) 28,000 Revenue ($4.00q) $ 112,000 Expenses: Raw materials ($2.00q) 56,000 Wages and salaries ($6,200+ $0.20q) 11,800 Utilities ($2,100 + $0.05q) 3,500 Facility rent ($3,500) 3,500 Insurance ($2,000) 2,000 Miscellaneous…
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Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Department Chip Fabrication Electronic Assembly Final Assembly Budget Performance Report-Vice President, Production For the Month Ended June 30 Cost Factory wages Materials Power and light a. S b. Maintenance c. S d. s e. S f. S Actual $402,500 286,900 (g) $(1) Actual $(a) 86,710 135,860 $(d) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Over Budget Budget $402,500 289,800 Actual $25,680 73,390 4,460 8,050 (h) $(k) Budget $(b) 85,600 136,960 $(e) i. $ (1) $(1) 9. $ h. $ Over Budget s(c) 1,110 Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Over Budget Budget $24,000 $1,680 73,910 3,750 7,350 j. s k. $ 1. S $(f) (Under) Budget $0 (2,900) 710 700 $111,580 $109,010 $3,090 $(520) a. Complete the budget performance…
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