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The Redmond Management Association held its annual public relations luncheon in April Year 2. Based on the previous year’s results, the organization allocated $31,760 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.

 

The budget for the luncheon was based on the following expectations:

 

1. The meal cost per person was expected to be $13.80. The cost driver for meals was attendance, which was expected to be 1,600 individuals.

2. Postage was based on $0.84 per invitation and 4,000 invitations were expected to be mailed. The cost driver for postage was number of invitations mailed.

3. The facility charge is $3,000 for a room that will accommodate up to 1,700 people; the charge for one to hold more than 1,700 people is $3,500.

4. A fixed amount was designated for printing, decorations, the speaker’s gift, and publicity.

 

REDMOND MANAGEMENT ASSOCIATION

Public Relations Luncheon Budget

April Year 2

Operating funds allocated

$

31,760

 

Expenses

 

 

 

Variable costs

 

 

 

Meals (1,600 × $13.80)

 

22,080

 

Postage (4,000 × 0.84)

 

3,360

 

Fixed costs

 

 

 

Facility

 

3,000

 

Printing

 

1,150

 

Decorations

 

1,040

 

Speakerapos;s gift

 

330

 

Publicity

 

800

 

Total expenses

 

31,760

 

Budget surplus (deficit)

$

0

 

 

Actual results for the luncheon follow.

 

REDMOND MANAGEMENT ASSOCIATION

Actual Results for Public Relations Luncheon

April Year 2

Operating funds allocated

$

31,760

 

Expenses

 

 

 

Variable costs

 

 

 

Meals (1,820 × $14.50)

 

26,390

 

Postage (5,000 × 0.84)

 

4,200

 

Fixed costs

 

 

 

Facility

 

3,500

 

Printing

 

1,150

 

Decorations

 

1,040

 

Speakerapos;s gift

 

330

 

Publicity

 

800

 

Total expenses

 

37,410

 

Budget deficit

$

(5,650

)

 

Reasons for the differences between the budgeted and actual data follow.

 

1. The president of the organization, Rodney Snow, increased the invitation list to include 1,000 former members. As a result, 5,000 invitations were mailed.

2. Attendance was 1,820 individuals. Because of higher-than-expected attendance, the luncheon was moved to a larger room, thereby increasing the facility charge to$3,500

3. At the last minute, Ms. Hubbard decided to add a dessert to the menu, which increased the meal cost to $14.5 per person.

4. Printing, decorations, the speaker’s gift, and publicity costs were as budgeted.

 

Required:

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.

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

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