Belfast Bites caf prepares on-board meals for ferries in its kitchen located next to the local...

 

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Belfast Bites caf prepares on-board meals for ferries in its kitchen located next to the local port. The company's planning budget for Jan 2024 is as follows: BELFAST BITES CAF PLANNING BUDGET FOR THE MONTH ENDED JAN 2024 Budgeted meals (units) Revenue (9 per meal) 54,000 486,000 Expenses Raw materials (5.80 per meal) 313,200 Wages and salaries (15,400 + 0.80p per meal) 58,600 Utilities (6,000+ 0.25p per meal) 19,500 Facility rent 9,635 Insurance 5,420 Miscellaneous (2,360 +0.05p per meal) 5,060 Total expense 411,415 Operating income 74,585 In Jan 2024 53,700 meals were actually served. The company's actual results for this level of activity appears below: BELFAST BITES CAF ACTUAL RESULTS FOR THE MONTH ENDED JAN 2024 Actual meals (units) 53,700 Revenue (8.75 per meal) 469,875 Expenses Raw materials (26 per meal) 322,200 Wages and salaries (15,400 + 0.90p per meal) 63,730 Utilities (6,000+ 0.15p per meal) 14,055 Facility rent 9,635 Insurance 5,420 Miscellaneous (2,360 + 0.04p per meal) Total expense 4,508 419,548 Operating income 50,327 Requirement: 1. Prepare the flexed budget for Belfast Bites Caf for Jan 2024 2. Calculate activity and revenue/spending variances for Belfast Bites Caf for Jan 2024 Belfast Bites caf prepares on-board meals for ferries in its kitchen located next to the local port. The company's planning budget for Jan 2024 is as follows: BELFAST BITES CAF PLANNING BUDGET FOR THE MONTH ENDED JAN 2024 Budgeted meals (units) Revenue (9 per meal) 54,000 486,000 Expenses Raw materials (5.80 per meal) 313,200 Wages and salaries (15,400 + 0.80p per meal) 58,600 Utilities (6,000+ 0.25p per meal) 19,500 Facility rent 9,635 Insurance 5,420 Miscellaneous (2,360 +0.05p per meal) 5,060 Total expense 411,415 Operating income 74,585 In Jan 2024 53,700 meals were actually served. The company's actual results for this level of activity appears below: BELFAST BITES CAF ACTUAL RESULTS FOR THE MONTH ENDED JAN 2024 Actual meals (units) 53,700 Revenue (8.75 per meal) 469,875 Expenses Raw materials (26 per meal) 322,200 Wages and salaries (15,400 + 0.90p per meal) 63,730 Utilities (6,000+ 0.15p per meal) 14,055 Facility rent 9,635 Insurance 5,420 Miscellaneous (2,360 + 0.04p per meal) Total expense 4,508 419,548 Operating income 50,327 Requirement: 1. Prepare the flexed budget for Belfast Bites Caf for Jan 2024 2. Calculate activity and revenue/spending variances for Belfast Bites Caf for Jan 2024