Question
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport. The company’s planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) 28,000 Revenue ($4.00q) $ 112,000 Expenses: Raw materials ($1.90q) 53,200 Wages and salaries ($6,400 + $0.20q) 12,000 Utilities ($1,900 + $0.05q) 3,300 Facility rent ($3,200) 3,200 Insurance ($2,100) 2,100 Miscellaneous ($400 + $0.10q) 3,200 Total expense 77,000 Net operating income $ 35,000 In July, 29,000 actually meals were served. The company’s flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (q) 29,000 Revenue ($4.00q) $ 116,000 Expenses: Raw materials ($1.90q) 55,100 Wages and salaries ($6,400+ $0.20q) 12,200 Utilities ($1,900 + $0.05q) 3,350 Facility rent ($3,200) 3,200 Insurance ($2,100) 2,100 Miscellaneous ($400 + $0.10q) 3,300 Total expense 79,250 Net operating income $ 36,750 Required: 1. Calculate the company’s activity variances for July
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Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
28,000
Revenue ($4.00q)
$
112,000
Expenses:
Raw materials ($2.00q)
56,000
Wages and salaries ($6,200 + $0.20q)
11,800
Utilities ($1,900 + $0.05q)
3,300
Facility rent ($3,300)
3,300
Insurance ($3,000)
3,000
Miscellaneous ($700 + $0.10q)
3,500
Total expense
80,900
Net operating income
$
31,100
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals
(q)
26,000
Revenue
($4.00q)
$
104,000
Expenses:
Raw materials
($2.00q)
52,000
Wages and
salaries ($6,200 + $0.20q)
11,400
Utilities
($2,100 + $0.05q)
3,400
Facility rent
($3,300)
3,300
Insurance
($2,000)
2,000
Miscellaneous
($600 + $0.10q)
3,200
Total
expense
75,300
Net operating
income
$
28,700
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
29,000
Revenue ($3.80q)
$
110,200
Expenses:
Raw materials ($1.90q)
55,100
Wages and salaries ($6,500 + $0.20q)
12,300
Utilities ($2,100 + $0.05q)
3,550
Facility rent ($3,000)
3,000
Insurance ($2,400)
2,400
Miscellaneous ($500 + $0.10q)
3,400
Total expense
79,750
Net operating income
$
30,450
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below: Flight Café Planning Budget For the Month Ended
July 31 Budgeted meals (q) 27,000 Revenue ($4.00q) $ 108,000
Expenses: Raw materials ($2.30q) 62,100 Wages and salaries ($6,200
+ $0.20q) 11,600 Utilities ($1,900 + $0.05q) 3,250 Facility rent
($3,500) 3,500 Insurance ($2,800) 2,800 Miscellaneous ($300 +
$0.10q) 3,000 Total expense 86,250 Net operating income $ 21,750 In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
24,000
Revenue ($4.30q)
$
103,200
Expenses:
Raw materials ($1.90q)
45,600
Wages and salaries ($6,000 + $0.20q)
10,800
Utilities ($1,900 + $0.05q)
3,100
Facility rent ($3,700)
3,700
Insurance ($2,400)
2,400
Miscellaneous ($500 + $0.10q)
2,900
Total expense
68,500
Net operating income
$
34,700
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
30,000
Revenue ($4.20q)
$
126,000
Expenses:
Raw materials
($1.90q)
57,000
Wages and salaries ($6,100 +
$0.20q)
12,100
Utilities ($1,900 +
$0.05q)
3,400
Facility rent ($3,500)
3,500
Insurance ($2,500)
2,500
Miscellaneous ($700 +
$0.10q)
3,700
Total expense
82,200
Net operating income
$
43,800
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
21,000
Revenue ($3.80q)
$
79,800
Expenses:
Raw materials
($2.20q)
46,200
Wages and salaries ($6,200 +
$0.20q)
10,400
Utilities ($2,100 +
$0.05q)
3,150
Facility rent ($3,200)
3,200
Insurance ($2,200)
2,200
Miscellaneous ($600 +
$0.10q)
2,700
Total expense
67,850
Net operating income
$
11,950
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
26,000
Revenue ($4.40q)
$
114,400
Expenses:
Raw materials ($2.00q)
52,000
Wages and salaries ($6,500 + $0.20q)
11,700
Utilities ($2,000 + $0.05q)
3,300
Facility rent ($3,200)
3,200
Insurance ($2,400)
2,400
Miscellaneous ($300 + $0.10q)
2,900
Total expense
75,500
Net operating income
$
38,900
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals (q)
20,000
Revenue ($4.10q)
$
82,000
Expenses:
Raw materials ($2.00q)
40,000
Wages and salaries ($6,300 + $0.20q)
10,300
Utilities ($2,100 + $0.05q)
3,100
Facility rent ($3,300)
3,300
Insurance ($2,300)
2,300
Miscellaneous ($700 + $0.10q)
2,700
Total expense
61,700
Net operating income
$
20,300
In...
Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport....
Flight Café prepares in-flight meals for airlines in its kitchen
located next to a local airport. The company’s planning budget for
July appears below:
Flight Café
Planning Budget
For the Month Ended July 31
Budgeted meals
(q)
21,000
Revenue
($4.30q)
$
90,300
Expenses:
Raw materials
($2.10q)
44,100
Wages and
salaries ($6,100 + $0.20q)
10,300
Utilities
($2,100 + $0.05q)
3,150
Facility rent
($3,800)
3,800
Insurance
($2,600)
2,600
Miscellaneous
($300 + $0.10q)
2,400
Total
expense
66,350
Net operating
income
$
23,950
In...
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