Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....

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Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport. The companys planning budg

Budgeted meals (9) 22.000 $94,600 Revenue ($4.364) Expenses Raw materials ($2.209) Wages and salaries ($6,300+ $0.209) Utilit

business accounting

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Answer 1

Answer #1

activity variance is difference between planning budget and flexible budget

			working
Revenue	4300	F	[90300-94600]
expenses
Raw material	2200	U	[48400-46200]
wages and salaries	200	U	[10500-10700]
utilities	50	U	[3100-3050]
facility rent	0	ZERO VARIANCE	[3300-3000]
insurance	0	ZERO VARIANCE	[2200-2200]
miscellaneous	100	U	[3100-3000]
total expense	2550	U
net operating income	1750	F[4300-2550]

FLEXIBLE BUDGET COST>PLANNED COST VARINCE= UNFAVORABLE

FLEXIBLE BUDGET COST< PLANNED COST VARIANCE = FAVORABLE

FLEXIBLE BUDGET REVENUE > PLANNED REVENUE VARIANCE = FAVORABLE

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Answer 2

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