Tuton Memorial Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for July was based on 3,200 meals. The diner's director has provided the following cost formulas to use in budgets:??Fixed element per monthVariable element per meal?Groceries$0$2.75?Kitchen operations$4,000$1.00?Administrative expenses$3,700$0.70?Fundraising expenses$1,400$0.00The director has also provided the diner's statement of actual expenses for the month:?Tuton Memorial DinerStatement of ExpensesFor the Month Ended July 31?Actual meals3,300????Groceries$9,005?Kitchen operations7,310?Administrative expenses5,910?Fundraising expenses 1,380?Total expense$23,605Required:Prepare a report showing the spending variances for each of
the expenses and for total expenses for July. Label each variance as favorable (F) or unfavorable (U).
What will be an ideal response?
| Tuton Memorial DinerSpending VariancesFor the Month Ended July 31 | ||||
| ? | ? | Actual Results | Flexible Budget | Spending Variances |
| ? | Meals (q) | 3,300 | 3,300 | ? | ? |
| ? | ? | ? | ? | ? | ? |
| ? | Groceries ($2.75q) | $9,005 | $9,075 | $70 | F |
| ? | Kitchen operations ($4,000 + $1.00q) | 7,310 | 7,300 | 10 | U |
| ? | Administrative expenses ($3,700 + $0.70q) | 5,910 | 6,010 | 100 | F |
| ? | Fundraising expenses ($1,400) | 1,380 | 1,400 | 20 | F |
| ? | Total expense | $23,605 | $23,785 | $180 | F |
You might also like to view...
Discuss the use of a tracking signal
What will be an ideal response?
Opie offers to sell his guitar to Pinky for $100. Pinky agrees. They complete and sign a printed form, and Pinky gives Opie a check for the price. This check is
A. a formal contract. B. an informal contract. C. a simple contract. D. no contract.
Which of the following includes activities such as manufacturing, research, sales, advertising, and shipping, as well as involving all entities that facilitate product distribution?
A. Channel management B. Inventory management C. Supply-chain management D. Logistics management E. Supply management
Which of the following federal acts does not permit initial private citizen suits?
A) Resource Conservation and Recovery Act B) Clean Air Act C) Clean Water Act D) All of the above permit private suits.