9 HW ik■Khttp://mcesInstructor wagesClassroom suppliesUtilities/ext/map/indexhtml?_con conexternal browser 08launchUrl=https%253A%252F%252Fims.mheducation.com%252Fmghmiddleware%252FmeThe Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses inits 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 62 students enrolled in those two courses. Data concerning the company's cost formulasappear below:Compus rentInsuranceAdministrative expensesRevenueInstructor wagesClassroom suppliesUtilitiesFixedCost perMonth$ 1,210$5,200$ 2,300$ 3,800Compus rentInsuranceAdministrative expensesCost perCourse$ 2,930$ 70$ 44For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's salesshould average $870 per student.Actual$ 51,040$ 11,000.$ 18,450$1,900$ 5,200$ 2,440$ 3,712cost perStudent$ 300The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58students. The actual operating results for September were as follows:$5Anitural ResultsSevedRequired:Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.Gourmand Cooking SchoolFlexible Budget Performance ReportFor the Month Ended September 30FlexiblePlanningBadnat cesThe company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58students. The actual operating results for September were as follows:RevenueInstructor wagesClassroom suppliesUtilitiesCampus rentInsuranceAdministrative expensesRequired:Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.CoursesStudentsRevenueExpensesInstructor wagesClassroom suppliesUtilitiesCampus rentInsuranceAdministrative expensesTotal expenseNet operating incomeActual$ 51,040$ 11,000$ 18,450$ 1,900$ 5,200$ 2,440$ 3,712$Actual ResultsSGourmand Cooking SchoolFlexible Budget Performance ReportFor the Month Ended September 3045851,04011,00018,4501,9005.2002,4403.71242.7028,338FlexibleBudgetPlanningBudget

The flexible budget reports repesent actual results of production, flexible budget and planning…

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per Cost per Month Course Student $ 2,930 5.70 $ 1,210 $ 5,200 $ 2,300 $ 3,800 $44 $ 300 $5 For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows:

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per Cost per Month Course Student $ 2,930 5.70 $ 1,210 $ 5,200 $ 2,300 $ 3,800 $44 $ 300 $5 For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Flounder Possible Inc. (FP) is a manufacturer of toaster ovens. To improve control over operations, the president of FP wants to begin using a flexible budgeting system, rather than using only the current master budget. The following data are available for FP's expected costs at production levels of 81,000, 90,000, and 99,000 units. Variable costs Manufacturing $5 per unit Administrative $3 per unit Selling $3 per unit Fixed costs Manufacturing $144,000 Administrative $72,000
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Fixed Cost per Month Utilities Campus rent Insurance Administrative expenses Cost per Cost per Course Student $ 2,940 $ 280 $ 1,250 $ 70 $ 5,000 $ 2,200 $ 3,900 $ 45 $ 5 For example, administrative expenses should be $3,900 per month plus $45 per course plus $5 per student. The company's sales should average $880 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows: Revenue Instructor wages…
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in 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 64 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 $ 2,920 Classroom supplies $ 300 Utilities $ 1,250 $ 55 Campus rent $ 4,900 Insurance $ 2,200 Administrative expenses $ 3,700 $ 42 $ 6 For example, administrative expenses should be $3,700 per month plus $42 per course plus $6 per student. The company’s sales should average $850 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September…
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The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers that it uses in 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 63 students enrolled in those two courses, Data concerning the company's cost formulas appear below Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per Month For example, administrative expenses should be $3,600 per month plus $41 per course plus 54 per student. The company's sales should average $890 per student. The actual operating results for September appear below: Cost per Cost per Course Student $2.930 $290 $1,200 $4,600 $2,000 $3,800 $ 41 $ 4 Revenue Expenses $ 90 Actual $53.170 $ 11,000 $18,120 $ 1.970 $ 4,600 Required: 1.…
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5 Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 85 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: ts- Book Hint Vessel operating costs Advertising Administrative costs Insurance Fixed Cost per cost per cost per Month Cruise Passenger $ 3.20 $ 6,300 $ 473.00 $ 2,700 $ 33.00 $ 5,600 $ 3,600 For example, vessel operating costs should be $6,300 per month plus $473.00 per cruite plus $3.20 per passengec The company's sales should average $33,00 per passenger. In July, the company provided 52 cruises for a total of 3.150 passengers. Required: Prepare the company's flexible budget for July Alyeski Tours…
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The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in 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. Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Cost per Fixed Cost per Month Cost per Course Student 2,940 $ 290 1,210 $ 50 4,700 2,200 3,700 $ 46 $ For example, administrative expenses should be $3,700 per month plus 546 per course plus $4 per student. The company's sales should average $880 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 55 students. The actual operating results for September appear below. Revenue Actual 50,780 Instructor wages $ 11,040…