ANSWERS Homework 5 Chapter 24 and 25 Section 2

ANSWERS Homework 5 Chapter 24 and 25 Section 2 - The...

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The University of Texas at Austin McCombs School of Business ACC 310F: Foundations of Accounting Homework #5 Answers A. Prepare a flexible performance report for Bob Smith and comment on his results. Budget Actual Variance Units 60, 000 60,000 Costs pe r uni t Flour and y east 0.04 $2, 400 $2,800 ($400) U Chees e 0.23 13, 800 12,650 1,150 F Pepperoni and deli m eats 1.25 75, 000 93,750 (18,750) U Ins urance on restaurant 1, 500 1,500 0 Leas e Paym ents on … 5, 000 5,500 (500) U Utilities 0.34 20, 400 21,250 (850) U Produc e (onions , mus hroom s 0.75 45, 000 45,000 0 Property t ax es 5, 000 7,500 (2,500) U Res taurant Maint enance Costs (fixed) 8, 000 8,000 0 Salary for Restaurant Shift Supervisors 20, 000 25,000 (5,000) U W ages for Kitchen Staff 1.50 90, 000 90,000 0 Fuel 0.16 9, 600 10,000 (400) U Total $295, 700 $322,950 $27,250 To ny's Piz za I nco rpora ted Fixe d Bu dge t Data – Austin p lan t Quarte r 3, 2008 Overall, Bob did a poor job as he has an overall unfavorable variance with the largest single issue
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ANSWERS Homework 5 Chapter 24 and 25 Section 2 - The...

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