need help identifying variable and fixed expenses in my accounting extra credit
ID: 449237 • Letter: N
Question
need help identifying variable and fixed expenses in my accounting extra credit project. this is for part 2 of the project, and the the instructions were:
Post your spreadsheet here. Don't forget to include: 1. an estimated amount for each expense 2. whether each expense is a fixed or a variable expense 3. a source for your estimate. See my posted example.
my fundraiser is as follows:
for my fundraising project I will be hosting a barbecue with a cover charge where all proceeds will go to benefit the Humane Society of Tulsa. My goal is to raise as much money as possible while having a fantastic time with friends and loved ones. Expenses will be the food and drinks purchased for the event along with plastic cups and plates for serving the items. Revenue will be from a cover charge that will be decided once I determine the cost of expenses and estimated guests. The process will involve purchase of food and drinks (which I am hoping to get at a discount once I explain the purpose) and preparing the food and drink for guests.
Chart of accounts
Revenue: Cover charge
Expenses:
Meats
Alcoholic drinks
Non-alcoholic drinks
Disposable cups
Disposable plates
Disposable cutlery
below is a screenshot of the example the instructor posted. can someone help me out??
example.xlsx-LibreOffice Calc File Edit View Insert Format Iools Data Window Help .g KIE @ %gh . Abc LibreOffice update available Calibri 0 .00 Click the icon for more information. Walmart 1 Expenses for Hanging Petunia Baskets 2 Kathy McAnally 26-Mar-15 Variable Fixed OtherPer Tray Per plant 102.950.4037254902 Per basket Fixed or Variable Sources Park See Park See Walmart 6 Plugs Petunias, wave 7 Baskets 102.95 Fixed* 1.89 1.10 Variable Variable Potting Soil Per bag for 24 baskets 9 Manure Donated 10 Color order sheets for 24 participants 26.39 33.99 Fixed Kinko 12 Total 2.99 136.94 14 FOne tray will make 42 baskets so it is fixed for up to 42 baskets. This cost is then fixed for each tray. If graphed it will respemble a stair step making it a fixed cost for a relavent range 16 17 18 20 24 26 28 30 31 35 36 39 + | Part 2 | Part 4 Sheet3 Sheet 1 of 3 PageStyle_Part 2 Sum-0 + | 100% -Explanation / Answer
Units Unit Rate Unit of measure Variable Fixed Sources Revenue: Cover charge Expenses: Meats 10 2.12 lb 21.2 variable 20 0.4985 oz 9.97 variable Alcoholic drinks 1.75 8.697143 L 15.22 variable Non-alcoholic drinks 2 0 0 variable Water 2 0 0 variable Disposable cups 5.13 ***these items are of variable nature, but a wholesome cost is provided, so taken as fixed Disposable plates 3.87 Disposable cutlery 2.84 Total 46.39 11.84
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