Prepare a flexible budget performance report (Learning Objective 5) Stone Canyon Muffins sells…
Prepare a flexible budget performance report (Learning Objective 5)
Stone Canyon Muffins sells its muffins to restaurants and coffee houses for an average selling price of $27 per case . The following information relates to the budget for Stone Canyon Muffins for this year (all figures are annual totals unless otherwise noted) :
During the year, Stone Canyon Muffins actually sold 9,500 cases, resulting in total sales revenue of $264,100 . Actual expenses (in total) from this year are as follows:
Construct a flexible budget performance report for Stone Canyon Muffins for the year. Be sure to indicate whether each variance is favourable (F) or unfavourable (U).