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Questions 1 : Use the table to answer questions., and use the variance analysis needs to address the following variances:
1.Sales variances (Level 1 and 2) :
Level 1 of Analysis: Master Budget Variance; Level 2 of Analysis: Flexible Budget Variance & Sales Volume Variance
2.Beverage expense variances (Main drink) (Level 1, 2, & and 3):
Level 1 of Analysis: Master Budget Variance; . Level 2 of Analysis: Flexible Budget Variance; Level 3 of Analysis: Direct Material Price & Efficiency Variance
3.Food expense variance (Main ingredient of the meal served) (Level 1, 2, and 3)
Level 1: 1. Level of Analysis: Master Budget Variance; . Level 2 of Analysis: Flexible Budget Variance; Level 3 of Analysis: Direct Material Price & Efficiency Variance
Hint:
• Conduct a variance analysis on your event budget/actual results
• Explain the impact of the variances on profitability
• Provide reasons for why the variances occurred
• Suggest recommendations for how to address similar issues in the future
• Use template to calculate the variance analysis and profitability impact
• explain the profitability impact, reasons for the variances and recommendation
Write 200-350 words
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