The following is a partial performance report for a revenue center for the Southeast Division of Flower City Restaurants.(Click the icon to view the financial results.)Fill in the missing amounts. Indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers and round the varipercentages to the nearest tenth of a percent, X.X%. Label each variance as favorable (F) or unfavorable (U).)ProductFoodDessertBarCateringFlower City RestaurantsSoutheast Division Sales Revenue forFor the Month Ending June 30$$$$Actual Sales Budgeted Sales146,00022,00054,00055,000141,620 S21,340 $58,320 $52,800 $Variance(U or F)GLUTEVariance %(U or F)%%%%

Sales variance analysis is one of important analysis being done in business. It shows variance…

The following is a partial performance report for a revenue center for the Southeast Division of Flower City Restaurants. (Click the icon to view the financial results.) Fill in the missing amounts. Indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers and round them percentages to the nearest tenth of a percent, XX%. Label each variance as favorable (F) or unfavorable (U).) Product Food Dessert Bar Catering Flower City Restaurants Southeast Division - Sales Revenue for For the Month Ending June 30 $ $ $ $ Actual Sales Budgeted Sales 141,620 S 146,000 21,340 $ 22,000 58,320 $ 54,000 52,800 $ 55,000 Variance (U or F) CELLE Variance % (U or F) %

The following is a partial performance report for a revenue center for the Southeast Division of Flower City Restaurants. (Click the icon to view the financial results.) Fill in the missing amounts. Indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers and round them percentages to the nearest tenth of a percent, XX%. Label each variance as favorable (F) or unfavorable (U).) Product Food Dessert Bar Catering Flower City Restaurants Southeast Division - Sales Revenue for For the Month Ending June 30 $ $ $ $ Actual Sales Budgeted Sales 141,620 S 146,000 21,340 $ 22,000 58,320 $ 54,000 52,800 $ 55,000 Variance (U or F) CELLE Variance % (U or F) %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Required:(i) Prepare a standard costing profit statement, and a profit statement based on actual figures for the month of May. (ii) Prepare a statement of the variances which reconciles the actual with the standard profit or loss figure.
Please answer step by step with full explanation.
Why is the identification of favorable and unfavorable variances so important to a company? How can the identification of the variances help management control costs? Please explain. Considering the flexible budgeting topic, it is important to look at this analysis as a significant contribution to the management of the company. Knowing what the bottom line profit or loss is important. But what is more important is to understand how your actual results varied in terms of units sold versus how the actual cost of each unit differed from the budget. What is a good example of this?
Jalancu Juviai u The following are a number of measures associated with the Balanced Scorecard. Required: 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth. a. Number of new customers b. Percentage of customer complaints resolved with one contact C. Unit product cost d. Cost per distribution channel e. Suggestions per employee f. Warranty repair costs Consumer satisfaction (from surveys) Cycle time for solving a customer problem Strategic job coverage ratio j. On-time delivery percentage k. Percentage of revenues from new products 2. Select an additional measure that would be appropriate for each of the four perspectives. Contribution margin by product ▾ Number of complaints Number of accidents per month Hours of continuing education provided per month g. h. i. Financial Customer Customer Internal business process Financial Financial Learning and growth Learning and growth…
Please Do not Give image format
Fix the red please
izzo Goal Inc. produces and sells hockey equipment, often custom made for online orders. The company has the following performance metrics on its balanced scorecard: days from ordered to delivered, number of shipping errors, customer retention rate, nd market share. A measure map illustrates that the days from ordered to delivered and the number of shipping errors are both expected to directly affect the customer retention rate, which affects market share. Additional internal analysis finds that: Every shipping error over three shipping errors per month reduces the customer retention rate by 1.5%. On average, each day above three days from ordered to delivered yields a reduction in the customer retention rate of 1%. Each day before three days from order to delivery yields an increase in the customer retention rate of 1%, on average. Rizzo Goal Inc.'s current customer retention rate is 60%. The company estimates that for every 1% increase or decrease in the customer retention rate,…
Is it possible for a retail store such as Apple to use variances in analyzing its operating performance? Explain.
S1: The percentage increase in selling price is found by dividing the favorable sales price variance by last year's sales at the current year's sales quantity. S2: The percentage decrease in units sold is found by dividing the favorable cost volume variance by the planned level of cost of sales. A. both are true C. S1 is true D. S2 is true B. both are false
A company that wants to report both spending and efficiency variances for 1 point overhead must compute budget allowances for both the actual amount of activity that occurred and the standard level of activity allowed for the level of output achieved. True O False
A company has set a new policy of acquiring materials from a second hand auction because it is cheaper than market price. Upon further investigations you have discovered that the materials from the auction are lower than the normal standard. How is the new policy likely to impact on the following variances: Material Usage: Choose... Labour Efficiency: Choose... Fixed overhead expenditure: Variable overhead efficiency: Previous page Choose... Choose... Next page