Main Street Muffins sells its muffins to restaurants and coffee houses for an average selling price of Main Street Muffins sells its muffins to restaurants and coffee houses for an average selling price of $26 per case. The following information relates to the budget for Main Street Muffins for this year (all figures are annual totalsunless otherwise noted):View the budget informationView the actual expenses (in total) from this year.Read the requirement.(Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U), in the input field after the amount you enter. If the variance is 0, make sure to enter in a "0". A variance of zero isconsidered favorable.)Sales revenue($26 per case)Main Street MuffinsFlexible Budget Performance Report - Sales and Operating ExpensesFor the Year Ended December 31Actual9,500 casesFlexibleBudgetVarianceFlexibleBudget9,500 casesVolumeVarianceMasterBudget9,100 cases Budget informationBudgeted sales in cases.......Packaging cost per case..... $Shipping expense per case$Sales commission expense....Salaries expenseOffice rentDepreciationInsurance expenseOffice supplies expensePrint$$$$S- XDone9,100 cases125% of sales price6,5003,9002,5001,800900Actual expensesPackaging cost..Shipping expense..Sales commission expense.Salaries expense..Office rent10,60019,50012,7607,3003,900$$2,500$1,600Office supplies expense$1,600During the year, Main Street Muffins actually sold0,500 cases, resulting in total sales revenue of$255,200.DepreciationInsurance expensePrint$$$DoneXRequirementConstruct a flexible budget performance report for Main Street Muffins for the yeaBe sure to indicate whether each variance is favorable (F) or unfavorable (U).PrintDone

The main purpose of Standard costing is to compare your actual performance with these standards and…

Budget information Budgeted sales in cases... Packaging cost per case. S Shipping expense per case... Sales commission expense Salaries expense Office rent.. $ Depreciation $ Insurance expense. $ Office supplies expense... $ Print 9,100 cases 1 Done 2 5% of sales price 6,500 3,900 2,500 1,800 900 X Actual expenses Packaging cost.. Shipping expense.. Sales commission expense.. Salaries expense... Office rent.. $ 10,600 $ 19,500 $ 12,760 $ 7,300 3,900 $ Depreciation $ 2,500 Insurance expense $ 1,600 1,600 Office supplies expense $ During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales revenue of $255,200. X Requirement Construct a flexible budget performance report for Main Street Muffins for the y Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print Done

Budget information Budgeted sales in cases... Packaging cost per case. S Shipping expense per case... Sales commission expense Salaries expense Office rent.. $ Depreciation $ Insurance expense. $ Office supplies expense... $ Print 9,100 cases 1 Done 2 5% of sales price 6,500 3,900 2,500 1,800 900 X Actual expenses Packaging cost.. Shipping expense.. Sales commission expense.. Salaries expense... Office rent.. $ 10,600 $ 19,500 $ 12,760 $ 7,300 3,900 $ Depreciation $ 2,500 Insurance expense $ 1,600 1,600 Office supplies expense $ During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales revenue of $255,200. X Requirement Construct a flexible budget performance report for Main Street Muffins for the y Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print Done

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter22: Budgeting

Section: Chapter Questions

Problem 5TIF: Static budget for a service company A hank manager of City Savings Rank Inc, uses the managerial...

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