Problem 8-19A Analyzing not-for-profit entity variances LO 8-1, 8-2, 8-3 The Westwood Management Association held its annual public relations luncheon in April 2013. Based orn the previous year's resuts, the organization allocated $22,32Bof its operating budget to cover the cost of the luncheon. To ensure that costs would be appropriately controlled, Andrea Cole, the treasurer, prepared the following budget for the 2013 luncheon. The budget for the luncheon was based on the following expectations. 1. The meal cost per person was expected to be $12.00. The cost driver for meals was attendance, which 2. Postage was based on S0.48 per invitation and 3,100 invitations were expected to be mailed. The cost 3. The faclity charge is $1,200 for a room that will accommodate up to 1,600 people; the charge for one to 4. A fixed amount was designated for printing, decorations, the speaker's gift, and publicity. was expected to be 1,420 individuals. driver for postage was number of invitations mailed. hold more than 1,600 people is $1,700 Public Relations Luncheon Budget April 2013 Operating funds allocated $22,328 Vaniable costs Meals (1,420 x$12.00 Postage (3,100x 0.48) Fixed costs Facility Prining 17,040 1,488 1,200 970 860 150 620 Speaker's gift Publicity Total expenses 22,328 Budget surplus (deficit)