Chaudhuri Memorial Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for April was based on 2,700 meals. The diner's director has provided the following cost formulas to use in budgets: Fixed elementper monthVariable element per mealGroceries 0 $3.50 Kitchen operations$5,900 $1.55 Administrative expenses$3,000 $0.75 Fundraising expenses$1,500 $0.00 ?The director has also provided the diner's statement of actual expenses for the month:?Chaudhuri Memorial DinerStatement of ExpensesFor the Month Ended April 30Actual meals 2,600Groceries$9,340Kitchen operations 10,300Administrative expenses 4,890Fundraising expenses 1,540Total expense$26,070?Required: ?Prepare a flexible budget performance report showing both the
activity variances and the spending variances for each of the expenses and for total expenses for April. Label each variance as favorable (F) or unfavorable (U).
What will be an ideal response?
| Chaudhuri Memorial Diner | ||||||||||||||
| Flexible Budget Performance Report | ||||||||||||||
| For the Month Ended April 30 | ||||||||||||||
| Actual Results | Spending Variances | Flexible Budget | Activity Variances | Planning Budget | ||||||||||
| Meals (q) | 2,600 | 2,600 | 2,700 | |||||||||||
| Groceries ($3.50q) | $ | 9,340 | $ | 240 | U | $ | 9,100 | $ | 350 | F | $ | 9,450 | ||
| Kitchen operations ($5,900 + $1.55q) | 10,300 | 370 | U | 9,930 | 155 | F | 10,085 | |||||||
| Administrative expenses ($3,000 + $0.75q) | 4,890 | 60 | F | 4,950 | 75 | F | 5,025 | |||||||
| Fundraising expenses ($1,500) | 1,540 | 40 | U | 1,500 | 0 | F | 1,500 | |||||||
| Total expense | $ | 26,070 | $ | 590 | U | $ | 25,480 | $ | 580 | F | $ | 26,060 | ? | ? |
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