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Category > Accounting Posted 10 Sep 2017 My Price 9.00

Air Meals

Air Meals is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company s planning budget for December appears below:

 

Air Meals
Planning Budget
For the Month Ended December 31
Budgeted meals (q)   20,000
Revenue ($3.80q) $ 76,000
 
Expenses:    
Raw materials ($2.30q)   46,000
Wages and salaries ($6,400 + $0.25q)   11,400
Utilities ($2,100 + $0.05q)   3,100
Facility rent ($3,800)   3,800
Insurance ($2,600)   2,600
Miscellaneous ($700 + $0.10q)   2,700
 
Total expense   69,600
 
Net operating income $ 6,400
 

 

In December, 21,000 meals were actually served. The company s flexible budget for this level of activity is as follows:

 

Air Meals
Flexible Budget
For the Month Ended December 31
Budgeted meals (q)   21,000
Revenue ($3.80q) $ 79,800
 
Expenses:    
Raw materials ($2.30q)   48,300
Wages and salaries ($6,400 + $0.25q)   11,650
Utilities ($2,100 + $0.05q)   3,150
Facility rent ($3,800)   3,800
Insurance ($2,600)   2,600
Miscellaneous ($700 + $0.10q)   2,800
 
Total expense   72,300
 
Net operating income $ 7,500
 

 

Required:
1.

Compute the company s activity variances for December.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Sep 2017 05:09 PM My Price 9.00

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