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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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Explanation:

Manufacturing overhead will be calculated as:

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Direct material = $10,000

Direct labor = $13000

Total cost = Direct material + Direct labor + Manufacturing overhead

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= $34050

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________________ is a general term used to describe the systems of businesses and organizations that arrange for the financing a
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Managed Care

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Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,000 have expired. A physical count of year-end merchandi
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Answer:

The answers are given below;

Explanation:

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   Salaries Payable   Cr.$1,700

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b.    Income summary Account (1,700+3,000+28,700)      Dr.$33,400

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4 0
3 years ago
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yes

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3 years ago
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Answer:

$101,385

Explanation:

The question is incomplete. The complete question can be found here- https://www.chegg.com/homework-help/questions-and-answers/present-value-10-equal-payments-16-500-made-end-year-next-10-years-annual-interest-rate-10-q41891258

Here is the complete question - What is the present value of 10 equal payments of $16,500 to be made at the end of each year for the next 10 years? The annual interest rate is 10%. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your answer to the nearest whole dollar.

The present value of cash flow can be found by discounting the present value of the cash flow by 10%

This can be found using a financial calculator:

Cash flow for year 1 - 10 = $16,500

I =10%

Present value = $101,385

I hope my answer helps you

6 0
2 years ago
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