Hansaben Flight CaféPlanning BudgetFor the Month Ended July 31Budgeted meals (q)Revenue ($4.00g)Expenses:Raw materials ($1.80q)Wages and salaries ($6,100 + $0.20g)Utilities ($1,800+ $0.05q)Facility rent ($3,800)Insurance ($2,200)Miscellaneous ($800+ $0.10q)Total expensesNet operating incomeBudgeted meals (q)Revenue ($4.00g)Expenses:Raw materials ($1.809)In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below:Flight Café. Flexible BudgetFor the Month Ended July 31Wages and salaries ($6,100+ $0.20g)Utilities ($1,800 + $0.05q)Facility rent ($3,800)Insurance ($2,200)Miscellaneous ($800 + $0.10q)Total expensesNet operating incomeRevenueExpenses:25,000$ 100,000Raw materialsWages and salaries45,00011,100Flight CaféActivity VariancesFor the Month Ended July 313,0503,8002,2003,30068,450$ 31,550Required:1. Calculate the company's activity variances for July.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.26,000$ 104,00046,80011,3003,1003,8002,2003,40070,600$ 33,400

ACTIVITY VARIANCEActivity variance is the comparative analysis tool which helps to determine the…

Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.00g) Expenses: Raw materials ($1.80q) Wages and salaries ($6,100 + $0.20q) Utilities ($1,800+ $0.05q) Facility rent ($3,800) Insurance ($2,200) Miscellaneous ($800+ $0.10q) Total expenses Net operating income Budgeted meals (q) Revenue ($4.00q) In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Expenses: Raw materials ($1.80q) Wages and salaries ($6,100+ $0.20g) Utilities ($1,800+ $0.05g) Facility rent ($3,800) Insurance ($2,200) Miscellaneous ($800 + $0.10q) Total expenses Net operating income Revenue Expenses: 25,000 $ 100,000 Raw materials Wages and salaries 45,000 11,100 3,050 3,800 2,200 3,300 68,450 $ 31,550 Flight Café Activity Variances For the Month Ended July 31 Required: 1. Calculate the company's activity variances for July. Note: 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. 26,000 $ 104,000 46,800 11,300 3,100 3,800 2,200 3,400 70,600 $ 33,400

Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.00g) Expenses: Raw materials ($1.80q) Wages and salaries ($6,100 + $0.20q) Utilities ($1,800+ $0.05q) Facility rent ($3,800) Insurance ($2,200) Miscellaneous ($800+ $0.10q) Total expenses Net operating income Budgeted meals (q) Revenue ($4.00q) In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Expenses: Raw materials ($1.80q) Wages and salaries ($6,100+ $0.20g) Utilities ($1,800+ $0.05g) Facility rent ($3,800) Insurance ($2,200) Miscellaneous ($800 + $0.10q) Total expenses Net operating income Revenue Expenses: 25,000 $ 100,000 Raw materials Wages and salaries 45,000 11,100 3,050 3,800 2,200 3,300 68,450 $ 31,550 Flight Café Activity Variances For the Month Ended July 31 Required: 1. Calculate the company's activity variances for July. Note: 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. 26,000 $ 104,000 46,800 11,300 3,100 3,800 2,200 3,400 70,600 $ 33,400

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.1E: Budget performance reports for cost centers Partially completed budget performance reports for...

See similar textbooks

Similar questions

Flight Cafe prepares in-flight meals for airlines and its planning budget for July appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (q) 25,000 Revenue ($4.40q) $ 110,000 Expenses: Raw materials ($2.20q) 55, 000 Wages and salaries ($6,400 + $0.20q) 11,400 Utilities ($ 1,800 + $0.059) 3,050 Facility rent ($3,300) 3, 300 Insurance ($3,000) 3,000 Miscellaneous (\$800+\$ 0.1q ) 3,300 Total expenses 79,050 Net operating income $ 30, 950 In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (q) 26, 000 Revenue ($4.40q) $ 114, 400 Expenses: Raw materials ($ 2.20q) 57,200 Wages and salaries ($ 400+\$ 0.2q ) 11,600 Utilities ($1,800 + $0.05q) 3, 100 Facility rent ($ 3,300) 3, 300 Insurance ($3,000) 3,000 Miscellaneous ($800 + $0.10q) 3,400 Total expenses 81,600 Net operating income $ 32, 800 Required: 1. Calculate the company's…
Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (g) Revenue $4.200) Raw materials ($2.10g) Wages and salaries ($6,300 + $0.20g) utilities ($2,200 + 50.054) Facility rent ($3,200) Insurance ($2,700) Miscellaneous (58ee-se-167) Total expenses Net operating income In July, 23.000 meals were actually served. The company's flexible budget for this level of activity appears below: Budgeted meals (q) Revenue ($4.20g) Flight Café Flexible Budget For the Month Ended July 31 Expenses: Raw materials ($2.109) Wages and salaries ($6,300+ $0.20g) Utilities ($2,200 se.05q) Facility rent ($3,200) Insurance ($2,700) Miscellaneous ($888 + se.10g) Total expenses Net operating income Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expenses Net operating income 22,000 $ 92,400 46,200 10,700 Flight Café Activity Variances For the…
Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($470.009) Expenses: Wages and salaries ($11,800 + $124.009) Supplies ($4.009) Equipment rental ($2,200 + $26.009) Insurance ($4,000) Miscellaneous ($540 + $1.469) Total expense Net operating income 300 $ 141,000 49,000 1,200 10,000 4,000 978 65,178 $ 75,822 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0
Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.20q) Expenses: Raw materials ($2.209) Wages and salaries ($6,500 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,100) Insurance ($2,900) Miscellaneous ($800 + $0.109) Total expenses Net operating income 26,000 $ 109,200 57,200 11,700 3,200 3,100 2,900 3,400 81,500 $ 27,700 In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.20q) Expenses: Raw materials ($2.209) Wages and salaries ($6,500+ $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,100) Insurance ($2,900) Miscellaneous ($800+ $0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 27,000 $ 113,400 59,400 11,900 3,250 3,100 2,900 3,500…
Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (g) Revenue ($3.98q) Expenses: Raw materials ($2.289) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,300). Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income 26,000 $ 101,400 57,200 11,500 3,200 3,300 2,200 3,400 80,800 $ 20,600 In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: Budgeted meals (q) Revenue ($3.90q) Expenses: Flight Café Flexible Budget For the Month Ended July 31 Raw materials ($2.209) Wages and salaries ($6,300+ $0.209) Utilities ($1,900 +$0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 27,000 $ 105,300 59,400 11,700 3,250 3,300 2,200 3,500…
Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.28q) Expenses: Raw materials ($2.309) Wages and salaries ($6,200 $0.289) Utilities ($2,100 + $0.05q) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($400 + $0.10) Total expenses Net operating income 23,000 $ 96,600 52,900 10,800 3,250 3,300 2,200 2,700 75,158 $ 21,450 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below. Budgeted meals (q) Revenue ($4.28q) Expenses: Flight Café Flexible Budget For the Month Ended July 31 Raw materials ($2.389) Wages and salaries ($6,200+ $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($400 +$0.18q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 24,000 $ 100,800 55,200 11,000 3,300 3,300 2,200 2,800…
Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1Quarter 2Sales$248,470$251,539Direct material purchases120,295128,832Direct labor76,55374,289Manufacturing overhead26,00024,400Selling and administration expenses33,50033,500Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers230,524220,116Cash payments for purchases114,345118,346 Additional data:Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. Required: a) Use this information to prepare a cash budget for the first two quarters of the year. bi) Briefly comment on Picta Company’s expected cashflow position in the first two quarters of the year.
Flight Café prepares.in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.50q) Expenses: Raw materials ($2.10q) Wages and salaries ($6,200 + $0.20g) Utilities ($2,000+ $0.05q) Facility rent ($3,600) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expenses Net operating income In July, 22,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.50q) Expenses: Raw materials ($2.10q) Wages and salaries ($6,200+ $0.20q) Utilities ($2,000+ $0.05q) Facility rent ($3,600) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expenses Net operating income 21,000 $ 94,500 44,100 10,400 3,050 3,600 2,700 2,800 66,650 $ 27,850 22,000 $ 99,000 46,200 10,600 3,100 3,600 2,700 2,900 69, 100 $ 29,900
Actual pounds (q) Revenue ($4.00g) Expenses: Packing supplies ($0.50q) Oyster bed maintenance ($3,200) Wages and salaries ($2,900 + $0.309) Shipping ($0.809) Utilities ($830) Other ($450+ $0.059) Total expense Net operating income Flexible Budget For the Month Ended August 31 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Revenue Expenses: Shipping Utilities Other Packing supplies Oyster bed maintenance Wages and salaries 8,000 $ 35, 200 4,200 3,100 5,640 6,950 810 980 Total expense Net operating income 21,680 $ 13,520 Required: Calculate the company's revenue and spending variances for August. (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.)…
Vulcan Flyovers Operating Data For the Month Ended July 31 Planning Budget Actual Flexible Results Budget Flights (q) Revenue ($345.00q) 54 54 52 $ 16,100 $ 18,630 $ 17,940 Expenses: Wages and salaries ($3,100 + $91.00q) Fuel ($30.00q Airport fees ($830 + $33.00q) Aircraft depreciation ($10.0eq) Office expenses ($240 + $1.00q) Total expense 7,972 1,790 2,492 8,014 1,620 2,612 7,832 1,560 2,546 540 540 520 462 294 292 13,256 13,080 12,750 Net operating income $ 2,844 $ 5,550 $ 5,190 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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.)
15 Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (g) Revenue ($4.00g) Expenses: Raw materials ($2.10g) Wages and salaries ($6,300 + $0.20g) Utilities ($2,000+ $0.05g) Facility rent ($3,900) Insurance ($2,500) Miscellaneous ($600+ $0.10g) Total expenses Net operating income. For the Month Ended July 31 In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget Budgeted meals (g) Revenue ($4.00g) Expenses: Rav materials ($2.10g) Wages and salaries ($6,300+ $0.20g) Utilities ($2,000+ $0.05g) 25,000 $ 100,000 Facility rent ($3,900) Insurance ($2,500) Miscellaneous ($600+ $0.10g) Total expenses Net operating income 52,500 11,300 3,250 3,900 2,500 3,100 76,550 $ 23,450 26,000 $ 104,000 54,600 11,500 3,300 3,900 2,500 3,200 79,000 $ 25,000
es w Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($390.00q) Expenses: Wages and salaries ($11,200 + $126.00q) Supplies ($4.00q) Equipment rental ($2,300 + $22.00q) Insurance ($4,200) Miscellaneous ($500+ $1.46q) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. 350 $ 136,500 Puget Sound Divers Flexible Budget For the Month Ended May 31