Akes Urban Diner is a charity supported by donations that provides free meals to the homeless The diner’s budget for August was based on 2,200 meals The diner’s director has provided the following cost data to use in the budget: groceries, $365 per meal; kitchen operations, $5,400 per month plus $185 per meal; administrative expenses, $2,900 per month plus $055 per meal; and fundraising expenses, $1,700 per month The director has also provided the diner’s statement of actual expenses for the month:
Akes Urban Diner
Statement of Expenses
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For the Month Ended August 31
Prepare a flexible budget performance report showing both the activity variances and the spending variances for each of the expenses and for total expenses for August Label each variance as favorable (F) or unfavorable (U)