INTERMEDIATE ACCT.(LL)-W/WILEYPLUS
17th Edition
ISBN: 9781119598572
Author: Kieso
Publisher: WILEY
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Mr. Snow was extremely upset with the budget deficit. He immediately called you, the treasurer, to complain about the budget variance for the meal cost. He told you that the added dessert caused the meal cost to be $4,810 ($25,110-$20,300) over budget. He added, “I could expect a couple hundred dollars one way or the other, but several thousand is totally unacceptable. At the next budget meeting of the budget committee, I want you to explain what happened.”
I need help Summarizing the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budge.
Along with Summarizing the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.Justifing the favorable or unfavorable budget variances.
Since this is a not-for-profit organization, addressing why anyone should be concerned with meeting the budget.
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