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monitta
2 years ago
10

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i

n its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 61 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
Fixed Cost per Month Cost per Course Cost per Student
Instructor wages $2,950
Classroom supplies $280
Utilities $1,220 $65
Campus rent $4,800
Insurance $2,300
Administrative expenses $4,000 $44 $4

For example, administrative expenses should be $4,000 per month plus $44 per course plus $4 per student. The company’s sales should average $870 per student. The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 51 students. The actual operating results for September appear below:

Actual
Revenue $51,660
Instructor wages $11,120
Classroom supplies $17,830
Utilities $1,840
Campus rent $5,000
Insurance $2,240
Administrative expenses $3,734

Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.
Business
1 answer:
o-na [289]2 years ago
8 0

Answer:

From the attached excel file, we havee:

Revenue and spending income from operations variance = $4,566 Favorable

Activity income from operations variance = -$5,860 Unfavorable

Explanation:

Note: See part a of the attached excel file for the flexible budget performance report that shows both revenue and spending variances and activity variances for September.

Also Note: See parts b and c of the attached excel file for the calculations of revenue and spending variances and activity variances respectively for September.

Download xlsx
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