Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to
Question:
Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company’s planning budget for July appears below:
In July, 17,800 meals were actually served. The company’s flexible budget for this level of activity appears below:
Required:
1. Prepare a report showing the company’s activity variances for July.
2. Which of the activity variances should be of concern to management? Explain.
Transcribed Image Text:
Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) 18,000 Revenue ($4.50q) . $81,000 Expenses: Raw materials ($2.40q) 43,200 Wages and salaries ($5,200 + $0.30q) 10,600 Utilities ($2,400 + $0.05q) ... 3,300 Facility rent ($4,300) 4,300 Insurance ($2,30)... 2,300 Miscellaneous (S680 + S0.10q). Total expense .. 2,480 66,180 Net operating income S14,820
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1 The activity variances are shown below Flight Caf Activity Variances For the Month E...View the full answer
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Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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