Planning Budget Assignment | Top Universities

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Fixed Cost Cost Cost per Month per Course Student $2,970 per Instructor wages Classroom supplies $290 $1,230 $ $5,000 $2,300 60 Utilities Campus rent Insurance Administrative 7 $4,000 44 expenses For example, administrative expenses should be $4,0000 per month plus $44 per course plus $7 per student. The company's sales should average $870 per student The company planned to run four courses with a total of 62 students; however, it actually ren four courses with a total of only 54 students. The actual operating results for September appear below Actual $51,040 $11,160 Classroom supplies $17,830 1,880 $ 5,000 $ 2,440 Revenue Instructor wages Utilities Campus rent Insurance Administrative 4,036 expenses Required: 1. Prepare the company's planning budget for September 2. Prepare the company's flexible budget for September 3. Calculate the revenue and spending variances for September Complete this question by entering your answers in the tabs below. Required Required Required 1 3 Prepare the company's planning budget for September. Gourmand Cooking School Planning Budget For the Month Ended September 30 Budgeted courses Actual students Revenue Expenses: Instructor wages Classroom supplies $ 53,940 11,880 utility Campus rent Insurance Administrative expenses Total expense 11,880 $ 42,060 Net operating income Required 2 > Required 1 The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students, For example, the school might run two COurses in a Data concerning the company's cost formulas appear below month and have a total of 62 students enrolled in those two courses Fixed Cost Cost Cost per Course Student $2,970 per Month Instructor wages Classroom supplies utility Campus rent Insurance $290 $1,230 $ $5,000 $2,300 60 Administrative 44 7 $4,000 expenses, For example, administrative expenses should be $4,000 per month plus $44 per course plus $7 per student. The company's sales should average $870 per student.

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The company planned to run four courses with a total of 62 students: however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below Actual $51,040 $11,160 Revenue Instructor wages Classroom supplies $17,830 Utilities Campus rent Insurance S1,880 5,000 $ 2,440 Administrative s 4,036 expenses Required: 1. Prepare the company's planning budget for September 2. Prepare the company's flexible budget for September 3. Calculate the revenue and spending variances for September Complete this question by entering your answers in the tabs below. Required Required Required Prepare the company's flexible budget for September. Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies utility Campus rent insurance Administrative expenses Total expense Net operating income 0 Required 3> Required 1 utility Campus rent $1,230 $ $5,000 $2,300 60 Insurance Administrative 7 $4,000 $ 44 expenses, For example, administrative expenses should be $4,000 per month plus $44 per course plus $7 per student. The company's sales should average $870 per student The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below Actual Revenue $51,040 $11,160 Instructor wages Classroom supplies $17,830 Utilities Campus rent Insurance Administrative expenses $1,880 $ 5,000 $ 2,440 $ 4,036 Required: 1. Prepare the company's planning budget for September 2. Prepare the company's flexible budget for September 3. Calculate the revenue and spending variances for September Complete this question by entering your answers in the tabs below. Required Required Required 1 Calculate the revenue and spending variances for September. (Indicate the effect of each variance by selecting “F for favorable, “U” for unfavorable, and “None” for no effect (i.e, zero variance). Input all amounts as positive values.) Show less Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Revenue and Spending Variances Actual Results Flexible Budget 4 Courses Students 54 $51,040 Revenue Expenses: Instructor wages Classroom supplies Utilities 11,160 17,830 1,880 Campus rent Insurance Administrative 5,000 2,440 4,036 expen Total expense Net operating income 42,346 $ 8,694 Required 2 Required 3. Get Accounting homework help today

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