Organic Muffins sells its muftins to restaurants and coffee houses for an averag

Question

Organic Muffins sells its muftins to restaurants and coffee houses for an average seling price of $31 per case. The folowing information relates to the budget for Organic Muffins for this year (all fiqures are annual totals unless otherwise noted) ?(Click the icon to view the budget informaton ) During the year, Organic Muthns actually soldd cases, resulting in tatal sales revenue t S311,40D Actual expenses (in totel) from this year are as follows EEB (Click the icon to view the actual expenses.) Construct a flexible budget performarnce report for Organic Muffins for the year. Be sure to indicate whether each variance is favorable F: of unfavorable U En or the van noes as positve nurnbors Label ca? variance as favorable IF or un a U' able (U) It the variance is , make sure to enter in A vanance at zera s considered tavorable) Data Table - X Daila Table Organic Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Packeging cost. Shipping expense Sales commission expense Salaries expense S 10,100 S 51,600 S 9,342 S 6,800 5 3,200 S 2,800 S 700 500 Budpeted sales in cases 9,300 cases Flexible Flexible Master Actual Budget Budget Volume Budget g cost per case Shipping expemse per case Sales commission expense Salarias expense Office renl Deprecation nsurance expense Office supplies oxpons 9,800 cases Variance9,800 cases Variance 9,300 cases 3% of sales price $6,400 S 3,200 $ 28DD 2,100 $ 1,200 Sales revenue $31 per case) Depreciation nsurance expensie omice suplies expense Print Done Print Done

Explanation / Answer

Organic Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Actual 9800 cases Flexible Budget Variance Flexible Budget 9800 cases Volume Variance Master Budget 9300 cases Sales revenue ($31 per case) 311400 7600 F 303800 15500 F 288300 Variable operating expenses: Packaging expense ($4 per case sold) 40100 900 U 39200 2000 U 37200 Shipping expense ($5 per case sold) 51600 2600 U 49000 2500 U 46500 Sales commissions (3% of sales price) 9342 228 U 9114 465 U 8649 Fixed operating expenses: Salaries 6800 400 U 6400 0 F 6400 Office rent 3200 0 F 3200 0 F 3200 Depreciation 2800 0 F 2800 0 F 2800 Insurance expense 1700 400 F 2100 0 F 2100 Office supplies expense 1500 300 U 1200 0 F 1200 Total operating expenses 117042 4028 U 113014 4965 U 108049

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