Question

Chapter 9 Applying Excel (B) Saved Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: 10 B C D E points 1 Chapter 9: Applying Excel eBook 3 Print $ $ 16.50 6.25 References 4 5 6 7 8 9 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $ $ $ + $ 0.209 10,400 800 2,200 600 + $ 0.80 9 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries 15 Utilities 16 Rent 17 Miscellaneous $ $ $ $ $ $ 29,890 11,140 10,640 1,170 2,200 2,005 18 19 Planning budget activity 20 Actual activity 1,700 meals served 1,800 meals served

Answer 1

Ans:

a                          
Activity variance for revenue =Actual revenue-Planning budgeted revenue= (1800*16.50)-(1700*16.50)=1650   F  
b                          
Spending variance for the cost of ingredients = Actual  Cost of Ingredients-Budgeted cost for actual meals served= 11140-(1800*6.25)=110   F  
c                          
Spending variance for wages and salaries =Actual  Cost of wages and salaries-Budgeted cost =10640-10400=240   U  
d                          
Actual total expenses =11140+10640+1170+220+2005=27155                   27155      
Flexible budget total expenses = (1800*6.25)+10400+800+(1800*0.2)+2200+600+(1800*0.8)=27050                           27050
Spending variance for total expenses = 27155-27050=105 U