Question

Sweet Muffins sells its muffins to restaurants and coffee houses for an average selling price of ​$35 per case. The following information relates to the budget for Sweet Muffins for this year​ (all figures are annual totals unless otherwise​ noted):

Sweet Muffins sells its muffins to restaurants and coffee houses for an average selling price of $35 per case. The following information relates f Requirement the budget for Sweet Muffins for this year (all figures are annual totals unless Construct a flexible budget performance report for Sweet Muffins for the year. Be sure to indicate whether each othe r unfavorable (U). If the variance is 0. make sure to enter in a "o A variance of zero is considered to view the budg 9 800 cases, resulting in total sales revenue of $350,400. Actual favorable (E) t information tho vear Sureat Muffins favorable.) expenses (in total) from this year are as follows (Click the icon to view the actual expenses.) Sweet Muffins Flexible Budget Performance Report Sales and Operating Expenses For the Year Ended December 31 Flexible Elexible Master Actual Budget Budget Volume Budget 9,800 cases 9.800 cases 700 cases Variance Variance Sales revenue ($35 per case) Bwmns cauE SEemS and coliee nouses The following information relates to the budget for Sweet Muffins for this year (all fiqures are annual totals unless otherwise noted) (Click the icon to view the budget information. Construct a flexible budget performance report for Sweet Muffins for the year. Be sure variance is favorable (F) indicate whether each positive numbers. Label each variance as unfavorable (U). (Enter the variances 16 the uariance is 0 make ure to enter in a "0" A variance of zero is considered orable ) During the year, Sweet Muffins actually sold 9,800 cases, resultin expenses (in total) from this year are as follows: (Click the icon to view the actual expenses.] X Data Table iData Table 9.700 cases Budgeted sales in cases Packaging cost. 20,700 Sweet Packaging cost per case 31,000 Shipping expense Flexible Budget Performance Rep S Shipping expense per case Sales commission expense 14.016 For the Year Enc Sales commission expense 4% of sales price Salaries expense 8,100 6,800 Salaries expense. S Office rent 4.100 Actual Office rent 4,100 Depreciation 3.200 9.800 cases Depreciation 3,200 Insurance expense. 1,700 Sales revenue Insurance expense 2,400 Office supplies expense 1,500 ($35 per case) Office supplies expense 1,000 Choose from any list the input fields a enter any number Print Done Print Done

Answer 1

Sweet Muffins
Flexible budget performance report - Sales and operating expense
For year ended for December, 31
		Actual Results	Flexible Budget Variance		Flexible Budget	Volume Variance		Master Budget
Cases	Z	9800			9800			9700
Sales Revenue	$35 X Z	$            3,43,000	$                   -	None	$      3,43,000	$    3,500	F	$ 3,39,500
Variable operating expense:
Packaging expense	$2 X Z	$               20,700	$            1,100	U	$          19,600	$        200	U	$    19,400
Shipping expense	$3 X Z	$               31,000	$            1,600	U	$          29,400	$        300	U	$    29,100
Sales Commissions	4% X Sales revenue	$               14,016	$                296	U	$          13,720	$        140	U	$    13,580
Fixed operating expense:
Salaries		$                  8,100	$            1,300	U	$            6,800	$           -	None	$       6,800
Office rent		$                  4,100	$                   -	None	$            4,100	$           -	None	$       4,100
Depreciation		$                  3,200	$                   -	None	$            3,200	$           -	None	$       3,200
Insurance expense		$                  1,700	$                700	F	$            2,400	$           -	None	$       2,400
Office supplies expense		$                  1,500	$                500	U	$            1,000	$           -	None	$       1,000
Total operating expense		$               84,316	$            4,096	U	$          80,220	$        640	U	$    79,580