Garing Urban Diner is a charity supported by donations that provides free meals to the homeless.The diner's budget for March was based on 3,600 meals.The diner's director has provided the following cost data to use in the budget: groceries,$2.20 per meal;kitchen operations,$4,300 per month plus $1.90 per meal;administrative expenses,$3,300 per month plus $0.20 per meal;and fundraising expenses,$1,000 per month.The director has also provided the diner's statement of actual expenses for the month: Required:
Prepare a report showing the diner's spending variances for each of the expenses and for total expenses for March.Label each variance as favorable (F) or unfavorable (U).

Question

Garing Urban Diner is a charity supported by donations that provides free meals to the homeless.The diner's budget for March was based on 3,600 meals.The diner's director has provided the following cost data to use in the budget: groceries,$2.20 per meal;kitchen operations,$4,300 per month plus $1.90 per meal;administrative expenses,$3,300 per month plus $0.20 per meal;and fundraising expenses,$1,000 per month.The director has also provided the diner's statement of actual expenses for the month:  Required:
Prepare a report showing the diner's spending variances for each of the expenses and for total expenses for March.Label each variance as favorable (F) or unfavorable (U).

Quizplus · Accepted Answer

The Answer of Garing Urban Diner is a charity supported by donations that provides free meals to the homeless.The diner's budget for March was based on 3,600 meals.The diner's director has provided the following cost data to use in the budget: groceries,$2.20 per meal;kitchen operations,$4,300 per month plus $1.90 per meal;administrative expenses,$3,300 per month plus $0.20 per meal;and fundraising expenses,$1,000 per month.The director has also provided the diner's statement of actual expenses for the month:  Required:
Prepare a report showing the diner's spending variances for each of the expenses and for total expenses for March.Label each variance as favorable (F) or unfavorable (U).

Garing Urban Diner Is a Charity Supported by Donations That