NAME: SCORE: Note: In Module 2, understanding the variance analysis is important. I really want you all to get the concept in this module. Please make sure the answers before you submit it. The Lenoir Dining appears to be having some difficulty controlling its food costs. Its budgeted food cost percentage was 33 percent based on food sales of $110,000. However, the actual food sales were $120,000, and the actual food cost totaled $40,000. The number of covers budgeted and actually served totaled 12,000 and 14,000, respectively. The general manager, Mr. DJ, is trying to analyze the restaurant's revenue and food cost variances. Please answer the following variances. Required: 1. Analyze the food revenue variance: a. Budget variance for the food revenue: b. Price variance: c. Volume variance: 2. Analyze the food cost variance: a. Budget variance for the food costs: b. Cost variance: C. Volume variance