Flight Caf prepares in-flight meals for airlines and its planning budget for July appears below: Flight Caf
Fantastic news! We've Found the answer you've been seeking!
Question:
Flight Caf prepares in-flight meals for airlines and its planning budget for July appears below: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.40q) Expenses: Raw materials ($1.80q) Wages and salaries ($6,500+ $0.20q) Utilities ($1,900 + $0.05q) Facility rent ($4,000) Insurance ($3,000) Miscellaneous ($300 + $0.10q) Total expenses Net operating income 26,000 $ 114,400 Budgeted meals (q) Revenue ($4.40q) Expenses: Raw materials ($1.80q) Wages and salaries ($6,500+ $0.20q) Utilities ($1,900 + $0.05q) Facility rent ($4,000) Insurance ($3,000) Miscellaneous ($300 + $0.10g) Total expenses Net operating income 46,800 11,700 3,200 4,000 3,000 2,900 71,600 $ 42,800 In July, 27,000 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 27,000 $ 118,800 48,600 11,900 3,250 4,000 3,000 3,000 73,750 $ 45,050 Required: 1. Calculate the company's activity variances for July. 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.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6648d3fa74866_8906648d3fa18672.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6648d3fb1a229_8906648d3faaf41f.jpg)
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date: