Question

UUUle. 00 0,00 IU pis E10-26A (similar to) Question Help Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Divine Muffins for this year (all figures are annual totals unless otherwise noted) E: (Click the icon to view the budget information.) During the year, Divine Muffins actually sold 8,400 cases, resulting in total sales revenue of $276,200. Actual expenses (in total) from this year are as follows: :: (Click the icon to view the actual expenses.) Requirement Construct a flexible budget performance report for Divine Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Divine Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Volume 8,400 cases Variance 8,400 cases Variance Master Budget 7,700 cases Sales revenue ($32 per case) 276200 Choose from any list or enter any number in the input fields and then click Check Answer.

Answer 1

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Divine Muffins
Flexible budget performance report - Sales and operating expense
For year ended for December, 31
		Actual Results	Flexible Budget Variance		Flexible Budget	Volume Variance		Master Budget
Cases	Z	8400			8400			7700
Sales Revenue	$32 * Z	$     2,76,200	$            7,400	F	$      2,68,800	$   22,400	F	$ 2,46,400
Variable operating expense:
Packaging expense	$3 * Z	$         26,400	$            1,200	U	$          25,200	$     2,100	U	$    23,100
Shipping expense	$2 * Z	$         19,600	$            2,800	U	$          16,800	$     1,400	U	$    15,400
Sales Commissions	4% *Sales revenue	$         11,048	$                296	U	$          10,752	$         896	U	$       9,856
Fixed operating expense:
Salaries		$           6,400	$                400	U	$            6,000	$            -	None	$       6,000
Office rent		$           4,000	$                   -	None	$            4,000	$            -	None	$       4,000
Depreciation		$           2,600	$                   -	None	$            2,600	$            -	None	$       2,600
Insurance expense		$           2,100	$                200	F	$            2,300	$            -	None	$       2,300
Office supplies expense		$               900	$                400	U	$                500	$            -	None	$          500
Total operating expense		$         73,048	$            4,896	U	$          68,152	$     4,396	U	$    63,756