Wagster Urban Diner is a charity supported by donations that provides free meals

Question

Wagster Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for November was based on 2,400 meals. The diner's director has provided the following cost data to use in the budget: Expense Category Fixed Component Variable Component Per Month Per Meal The director has also provided the diner's statement of actual expenses for the month: Wagster Urban Diner Statement of Actual Activity for the Month Ended November Actual meals 2,700 Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense 5,575 S 9,015 s 3,900 S 1.750 S 20,240 Required: Using the template provided, prepare a flexible budget performance report showing both the activity variances and the spending variances for each of the expenses and for total expenses for November. Label each variance as favorable (F) or unfavorable (U). Waester Urban Diner Flexible Budget Performance Report For the Month Ended November 30 Actual Spending or Flexible Activity orPlanning Results Variances U? Budget Variances U? Budget Total expense

Explanation / Answer

Flexible budget performance report :

Actual results Spending variance F or U Flexible budget Activity variance F or U Planning budget Meals 2700 2700 2400 Groceries 5575 40 U 5535 615 U 4920 Kitchen operationgs 9015 210 F 9225 525 U 8700 Administrative expense 3900 140 F 4040 60 U 3980 Fundraising expense 1750 50 U 1700 0 None 1700 Total expense 20240 260 F 20500 1200 U 19300

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