Project 2 Cost Accounting
jams_r1
Project2.xlsxSheet1
| Question 1 | |||||
| A. Totals | Actual | Budgeted | Variance | Favorable/Unfavorable | |
| Revenue | 30,779,500 | 29,060,000 | -1,719,500 | Unfavorable | |
| Expense | 31,772,550 | 26,361,000 | -5,411,550 | Unfavorable | |
| Surplus/Deficit | -993,050 | 2,699,000 | 3,692,050 | Unfavorable | |
| B. Museum Admissions | Actual Price | Budgeted Price | Quantity | Variance | Favorable/Unfavorable |
| Price Variance | $ 12.00 | $ 12.50 | 1,000,000 | $ 500,000 | Unfavorable |
| Actual Quantity | Budgeted Quantity | Price | Variance | Favorable/Unfavorable | |
| Quantity Variance | 1,000,000 | 800,000 | $ 12.50 | $2,500,000 | Favorable |
| Actual | Budgeted | Variance | Favorable/Unfavorable | ||
| Museum Admissions Variance | 1,000,000 | $ 800,000 | 2,000,000 | Favorable | |
| C. Curatorial Staff | Actual Price | Budgeted Price | Quantity | Variance | Favorable/Unfavorable |
| Price Variance | $19 | $20 | 139,650 | $139,650 | Favorable |
| Actual Quantity | Budgeted Quantity | Price | Variance | Favorable/Unfavorable | |
| Quantity Variance | 139,650 | 104,000 | $ 20 | $ 713,000 | Unfavorable |
| Actual | Budgeted | Variance | Favorable/Unfavorable | ||
| Curatorial Staff Variance | 139,650 | 104,000 | $ 139,650 | Favorable | |
