Reference no: EM132568856

Subway at the Student Union projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the table below to solve the questions.

                                 Meals (# of units)                       Price/unit                         Total Revenue

Budget                          3,000                                    $5.5                                    ?

Actual                             3,200                                      ?                               $18,400

Question 1: What was the total budgeted revenue?

Question 2: What was the actual price per unit?

Question 3: Determine the budget variance (i.e.,total revenue variance).

Question 4: Determine the volume variance.

Question 5: Determine the price variance.

Question 6: Determine the price-volume variance

Question 7:  Which variance was favorable in September? ( )

A. The volume variance

B. The price variance

C. The budget variance(i.e., total revenue variance)

D. All of the above