KALAMAZOO ZOO Financial Statement 2009 Revenues: ACTUAL BUDGETED Gate Ticket Revenue from visitors 100,000 120,000 License...

 

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KALAMAZOO ZOO Financial Statement 2009 Revenues: ACTUAL BUDGETED Gate Ticket Revenue from visitors 100,000 120,000 License Revenue from the food court 100,000 100,000 Donations from individuals 50,000 100,000 Grants for the Tiger Conservation Project* 180,000 150,000 Grants for the Rhino Conservation Project* 100,000 100,000 Grants for the Yellow-billed Cuckoo Conservation Project* 120,000 100,000 Subsidies from the state government 200,000 150,000 * Funds received directly from Federal government Total Revenues 850,000 820,000 Expenditures: Salary of Zoo Director 80,000 80,000 Salaries for Assistant Zoo Keepers (2 total) 100,000 100,000 Wages and Salary for Animal Handlers 100,000 100,000 Security, Office and Support staff Wages 50,000 50,000 Fringe Benefits cost for employees (health insurance, etc.) 130,000 130,000 Food and Provision costs for animals 360,000 240,000 Overtime costs 100,000 40,000 Utilities 50,000 30,000 Transportation and facilities for visitors 100,000 50,000 Total Expenditures 1,070,000 820,000 QUESTION 1: Perform a revenue and expenditure variance on the 2009 Kalamazoo budget based on the information provided in Table 1. State whether the revenue variance is favorable or unfavorable. State whether the expenditure variance is favorable or unfavorable. Use template #1 below to guide your analysis. Template 1 Variance Type Actual Revenue Variance Budget Variance Amount Favorable/ Unfavorable HKS Case Program 2 of 4 Case Number 2001.0 This document is authorized for use only by Sara Windoft in BUS 615 Managerial Accounting Spring 2024 taught by Thomas Vance, Colorado State University from Jan 20 KALAMAZOO ZOO Financial Statement 2009 Revenues: ACTUAL BUDGETED Gate Ticket Revenue from visitors 100,000 120,000 License Revenue from the food court 100,000 100,000 Donations from individuals 50,000 100,000 Grants for the Tiger Conservation Project* 180,000 150,000 Grants for the Rhino Conservation Project* 100,000 100,000 Grants for the Yellow-billed Cuckoo Conservation Project* 120,000 100,000 Subsidies from the state government 200,000 150,000 * Funds received directly from Federal government Total Revenues 850,000 820,000 Expenditures: Salary of Zoo Director 80,000 80,000 Salaries for Assistant Zoo Keepers (2 total) 100,000 100,000 Wages and Salary for Animal Handlers 100,000 100,000 Security, Office and Support staff Wages 50,000 50,000 Fringe Benefits cost for employees (health insurance, etc.) 130,000 130,000 Food and Provision costs for animals 360,000 240,000 Overtime costs 100,000 40,000 Utilities 50,000 30,000 Transportation and facilities for visitors 100,000 50,000 Total Expenditures 1,070,000 820,000 QUESTION 1: Perform a revenue and expenditure variance on the 2009 Kalamazoo budget based on the information provided in Table 1. State whether the revenue variance is favorable or unfavorable. State whether the expenditure variance is favorable or unfavorable. Use template #1 below to guide your analysis. Template 1 Variance Type Actual Revenue Variance Budget Variance Amount Favorable/ Unfavorable HKS Case Program 2 of 4 Case Number 2001.0 This document is authorized for use only by Sara Windoft in BUS 615 Managerial Accounting Spring 2024 taught by Thomas Vance, Colorado State University from Jan 20