Flight Caf Planning Budget For the Month Ended July 31 27,000 $ 108,000 Budgeted meals (q)...

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Flight Caf Planning Budget For the Month Ended July 31 27,000 $ 108,000 Budgeted meals (q) Revenue ($4.00q) Expenses: Raw materials ($1.80q) Wages and salaries ($6,100 + $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,300) Insurance ($2,100) Miscellaneous ($800 + $0.109) Total expenses Net operating income 48,600 11,500 3,350 3,300 2,100 3,500 72,350 $ 35,650 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.009) Expenses: Raw materials ($1.809) Wages and salaries ($6,100+ $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,300) Insurance ($2,100) Miscellaneous ($800 + $0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 28,000 $ 112,000 50,400 11,700 3,400 3,300 2,100 3,600 74,500 $ 37,500 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. Flight Caf Planning Budget For the Month Ended July 31 27,000 $ 108,000 Budgeted meals (q) Revenue ($4.00q) Expenses: Raw materials ($1.80q) Wages and salaries ($6,100 + $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,300) Insurance ($2,100) Miscellaneous ($800 + $0.109) Total expenses Net operating income 48,600 11,500 3,350 3,300 2,100 3,500 72,350 $ 35,650 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.009) Expenses: Raw materials ($1.809) Wages and salaries ($6,100+ $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,300) Insurance ($2,100) Miscellaneous ($800 + $0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 28,000 $ 112,000 50,400 11,700 3,400 3,300 2,100 3,600 74,500 $ 37,500 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.

Answer rating: 100% (QA)

1 Revenue Activity Variance Flexible Budget Revenue 112000 Actual Revenue 108000 Variance Actual Revenue Flexible Budget Revenue Variance 108000 112000 Variance 4000 Unfavorable Explanation The unfavo... View the full answer