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

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 8P: Preparing a performance report Use the flexible budget prepared in P7-6 for the 29,000-unit level of...
icon
Related questions
icon
Concept explainers
Question

do not give answer image formet

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: $
Flexible Budget Operating Income: $
Static-budget Variance: $ 161800
Flexible Budget Variance: $
Sales-volume Variance: $
Unfavourable
Unfavourable
Unfavourable
Transcribed Image Text: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: $ Flexible Budget Operating Income: $ Static-budget Variance: $ 161800 Flexible Budget Variance: $ Sales-volume Variance: $ Unfavourable Unfavourable Unfavourable
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Budgeting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,