I attached the assignment also if you cant understand it here. <\/p>\n
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The Rundle Management Association held its annual public relations luncheon in April Year 2. Based on the previous year\u2019s results, the organization allocated $27,408 of its operating budget to cover the cost of the luncheon. To ensure that costs would be appropriately controlled, Molly Hubbard, the treasurer, prepared the following budget for the Year 2 luncheon.<\/p>\n
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The budget for the luncheon was based on the following expectations:<\/p>\n
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\t1.\tThe meal cost per person was expected to be $13.00. The cost driver for meals was attendance, which was expected to be 1,520 individuals.<\/p>\n
\t2.\tPostage was based on $0.68 per invitation and 3,600 invitations were expected to be mailed. The cost driver for postage was number of invitations mailed.<\/p>\n
\t3.\tThe facility charge is $2,200 for a room that will accommodate up to 1,700 people; the charge for one to hold more than 1,700 people is $2,700.<\/p>\n
\t4.\tA fixed amount was designated for printing, decorations, the speaker\u2019s gift, and publicity.<\/p>\n
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RUNDLE MANAGEMENT ASSOCIATION<\/p>\n
Public Relations Luncheon Budget<\/p>\n
April Year 2Operating funds allocated\t$\t27,408\t Expenses\t \t \t Variable costs\t \t \t Meals (1,520 \u00d7 $13.00)\t \t\t19,760\t Postage (3,600 \u00d7 0.68)\t \t\t2,448\t Fixed costs\t \t \t Facility\t \t\t\t\t2,200\t Printing\t \t\t\t\t1,070\t Decorations\t \t\t\t960\t Speaker’s gift\t \t\t\t250\t Publicity\t \t\t\t720___\t Total expenses\t \t\t\t27,408\t Budget surplus (deficit)\t\t$\t0_____\t <\/p>\n
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Actual results for the luncheon follow.<\/p>\n
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RUNDLE MANAGEMENT ASSOCIATION<\/p>\n
Actual Results for Public Relations Luncheon<\/p>\n
April Year 2<\/p>\n
Operating funds allocated\t$\t27,408\t Expenses\t \t \t Variable costs\t \t \t Meals (1,740 \u00d7 $13.70)\t \t\t23,838\t Postage (4,600 \u00d7 0.68)\t \t\t3,128\t Fixed costs\t \t \t Facility\t \t\t\t\t2,700\t Printing\t \t\t\t1,070\t Decorations\t \t\t\t960\t Speaker’s gift\t \t\t\t250\t Publicity\t \t\t\t720\t Total expenses\t \t\t\t32,666\t Budget deficit\t\t\t$\t(5,258\t)<\/p>\n
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Reasons for the differences between the budgeted and actual data follow.<\/p>\n
\t1.\tThe president of the organization, Rodney Snow, increased the invitation list to include 1,000 former members. As a result, 4,600 invitations were mailed.<\/p>\n
\t2.\tAttendance was 1,740 individuals. Because of higher-than-expected attendance, the luncheon was moved to a larger room, thereby increasing the facility charge to$2,700<\/p>\n
\t3.\tAt the last minute, Ms. Hubbard decided to add a dessert to the menu, which increased the meal cost to $13.7 per person.<\/p>\n
\t4.\tPrinting, decorations, the speaker\u2019s gift, and publicity costs were as budgeted.<\/p>\n
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Required:<\/p>\n
a. Prepare a flexible budget and compute the sales and variable cost volume variances based on a comparison between the master budget and the flexible budget.<\/p>\n
b. Compute flexible budget variances by comparing the flexible budget with the actual results.<\/p>\n
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Complete this question by entering your answers in the tabs below.<\/p>\n
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\t\u00b7\tRequired A<\/p>\n
Prepare a flexible budget and compute the sales and variable cost volume variances based on a comparison between the master budget and the flexible budget. (Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance).)<\/p>\n
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\tMaster Budget\tFlexible Budget\tVolume Variance\t<\/p>\n
Allocated funds\t$27,408\t\t\t<\/p>\n
Expenses:\t\t\t\t<\/p>\n
Variable expenses\t\t\t\t<\/p>\n
Meals\t19,760\t\t\t<\/p>\n
Postage\t2,448\t\t\t<\/p>\n
Fixed expenses\t\t\t\t<\/p>\n
Facility\t2,200\t\t\t<\/p>\n
Printing\t1,070\t\t\t<\/p>\n
Decorations\t960\t\t\t<\/p>\n
Speaker\u2019s gift\t250\t\t\t<\/p>\n
Publicity\t720\t\t\t<\/p>\n
Total expenses\t27,408\t\t\t<\/p>\n
Surplus(deficit)\t$0\t\t\t<\/p>\n
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<\/p>\n","protected":false},"excerpt":{"rendered":"
I attached the assignment also if you cant understand it here. The Rundle Management Association held its annual public relations luncheon in April Year 2. Based on the previous year\u2019s results, the organization allocated $27,408 of its operating budget to cover the cost of the luncheon. To ensure that costs would be appropriately controlled, Molly […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[183],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/1690"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=1690"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/1690\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=1690"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=1690"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=1690"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=1690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}