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The Gourmand Cooking School runs short cooking courses at its small campus. Management its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses. Fixed Cost Cost per per Honth Course $ 2,910 5 55 Revenue Instructor wages Classroom supplies Utilities Compus rent Insurance Administrative expenses $1,240 $5,100 $2,300 $3,500 $ For example, administrative expenses should be $3.500 per month plus $46 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Courses Actual $ 54,000 Cost per Student $300 $ 10,920 $ 19,050 $ 1,870 $ 5,100 $ 2,440 $ 3,302 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget

The Gourmand Cooking School runs short cooking courses at its small campus. Management its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses. Fixed Cost Cost per per Honth Course $ 2,910 5 55 Revenue Instructor wages Classroom supplies Utilities Compus rent Insurance Administrative expenses $1,240 $5,100 $2,300 $3,500 $ For example, administrative expenses should be $3.500 per month plus $46 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Courses Actual $ 54,000 Cost per Student $300 $ 10,920 $ 19,050 $ 1,870 $ 5,100 $ 2,440 $ 3,302 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter13: Lean Manufacturing And Activity Analysis
Section: Chapter Questions
Problem 3PA: Lean accounting Dashboard Inc. manufactures and assembles automobile instrument panels for both eCar...
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The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance) Administrative expenses Fixed Cost Cost per Cost per per Honth Course Student $ 2,910 $300 For example, administrative expenses should be $3,500 per month plus $46 per course plus $3 per student. The company's sales should average $890 per student. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $1,240 5 55 $5,100 $ 2,300 $3,500 $ The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below: Courses Students Actual $ 54,060 $10,920 $ 19,050 $ 1,870 $ 5,100 $ 2,440 $ 3,302 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results 4 62 Flexible Budget Planning Budget
Transcribed Image Text:The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance) Administrative expenses Fixed Cost Cost per Cost per per Honth Course Student $ 2,910 $300 For example, administrative expenses should be $3,500 per month plus $46 per course plus $3 per student. The company's sales should average $890 per student. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $1,240 5 55 $5,100 $ 2,300 $3,500 $ The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below: Courses Students Actual $ 54,060 $10,920 $ 19,050 $ 1,870 $ 5,100 $ 2,440 $ 3,302 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results 4 62 Flexible Budget Planning Budget
s://ezto.mheducation.com/ext/map/inde rk 8 i Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Courses Students Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for S (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., ze variance). Input all amounts as positive values.) Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Actual $ 54,060 $ 10,920 $ 19,050 $ 1,870 $ 5,100. $ 2,440 $3,302 $ Actual Results $ Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 4 62 54,060 10,920 19,050 1,870 5,100 2,440 3,302 42,682 11,378 Saved Flexible Budget Planning Budget
Transcribed Image Text:s://ezto.mheducation.com/ext/map/inde rk 8 i Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Courses Students Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for S (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., ze variance). Input all amounts as positive values.) Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Actual $ 54,060 $ 10,920 $ 19,050 $ 1,870 $ 5,100. $ 2,440 $3,302 $ Actual Results $ Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 4 62 54,060 10,920 19,050 1,870 5,100 2,440 3,302 42,682 11,378 Saved Flexible Budget Planning Budget
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