Using the following information, calculate the static budget, flexible budget and sales-volume variances:

	Actual	Budget
Total Revenue	$845,000	$1,017,500
Total Food Cost	$91,000	$117,000
Total Variable Labor	$52,000	$74,000
Total Fixed Costs	$180,000	$180,000
Guests Served	237,000 guests	285,000 guests

Do not enter dollar signs or commas in the input boxes.
Round all answers to 2 decimal places.
Enter all variances as positive values.

Actual Operating Income:
Budgeted Operating Income:
Budgeted CM per guest:
Flexible Budget Operating Income:
Static-budget Variance:
Flexible Budget Variance:
Sales-volume Variance: 

Answer rating: 100% (QA)

Based on the information provided heres what we can understand about Exhibit 3 Static Budget Varianc... View the full answer