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  1. For this assignment, refer to the scenario located in
    “Problems – Series A,” section 8-19A of Ch. 8, “Performance Evaluation,“ of
    Fundamentals of Managerial Accounting Concepts.

    This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

    the scenario in the textbook and complete the activity below.

    Excel®—showing all work and formulas—to complete the following:

    • Prepare a flexible budget.

    • Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.

    • Compute flexible budget variances by comparing the flexible budget with the actual results.

    Createa 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:

    • Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.

    • Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.

    • Justify the favorable or unfavorable budget variances.

    • Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.

    • Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.

Answered 2 days AfterSep 29, 2022

Answer To: Exam Content

Khushboo answered on Oct 02 2022
19 Votes
                Master Budget    Flexible budget    Volume variance    F/UF
            Allocated funds    25290    25290    0    NE

            Variable expenses
            Meals    20300    23490    3190    UF
            Postage    1470    1960    490    UF

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