Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning...

 

 

 

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Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning and control purposes. It uses the number of burritos sold as its revenue and cost driver. The monthly planning budget amounts for the month of July are given in the table below and Its revenue and cost functions (formulas) are given in the left-hand column. You should use this performance report template to help you answer the question given below the template. Your first step (if completing the template sent to you by e-mail) is to fill in the "Actual Results" column (for July). Planning Revenue & Spending Flexible- Activity budget Variances (Static) Variances Budget 20,000 Burritos sold (q) Revenue ($4.00g) Expenses: COGS ($1.50q) Wages and salaries ($8,000 - $.50g) Supplies ($.250) Insurance ($2,000) Miscellaneous costs ($.300) Actual Results 19,000 $79.000 $31,000 $16.000 $4,600 $2,100 $5.400 $80,000 $30,000 $18,000 $5,000 $2,000 $6.000 Total Variance Total expenses $59.100 Net operating $19,900 Income Calculate the "Total Varlance" for "Wages & salaries" expense. Multiple Choice O $500 U $2.000 F $500 F $2,000 U $61.000 $19,000 Calculate the "Total expenses" activity varlance (.e. the sum of all expense activity varlances). Multiple Choice $1,900 U $2.550 F $1,900 F $2.550 U Assume the company reports the following in the month of August (the next month), with the Revenue and COGS functions (formulas) the same as given in the template [.e. the "Revenue" formula is $4.00q and the COGS formula is $1.50q). planning budget quantity actual number of units sold actual results for Sales actual results for COGS Calculate the "revenue and spending" variance for "COGS" (the $1.50q line). Multiple Choice OOO $1,060 U $1,060 F $440 U 21,000 22,000 $440 F $83.600 $32.560 Delicioso Burritos operates a food truck In Nogales, Arizona and prepares monthly performance reports for planning and control purposes. It uses the number of burritos sold as its revenue and cost driver. The monthly planning budget amounts for the month of July are given in the table below and Its revenue and cost functions (formulas) are given in the left-hand column. You should use this performance report template to help you answer the question given below the template. Your first step (if completing the template sent to you by e-mail) is to fill in the "Actual Results" column (for July). Planning Revenue & Spending Flexible- Activity budget Variances (Static) Variances Budget 20,000 Burritos sold (q) Revenue ($4.00g) Expenses: COGS ($1.50q) Wages and salaries ($8,000 - $.50g) Supplies ($.250) Insurance ($2,000) Miscellaneous costs ($.300) Actual Results 19,000 $79.000 $31,000 $16.000 $4,600 $2,100 $5.400 $80,000 $30,000 $18,000 $5,000 $2,000 $6.000 Total Variance Total expenses $59.100 Net operating $19,900 Income Calculate the "Total Varlance" for "Wages & salaries" expense. Multiple Choice O $500 U $2.000 F $500 F $2,000 U $61.000 $19,000 Calculate the "Total expenses" activity varlance (.e. the sum of all expense activity varlances). Multiple Choice $1,900 U $2.550 F $1,900 F $2.550 U Assume the company reports the following in the month of August (the next month), with the Revenue and COGS functions (formulas) the same as given in the template [.e. the "Revenue" formula is $4.00q and the COGS formula is $1.50q). planning budget quantity actual number of units sold actual results for Sales actual results for COGS Calculate the "revenue and spending" variance for "COGS" (the $1.50q line). Multiple Choice OOO $1,060 U $1,060 F $440 U 21,000 22,000 $440 F $83.600 $32.560

Answer rating: 100% (QA)

Answer is 2000 F Total variance for Salaries and Wa... View the full answer