Budgeted and Actual Costs Assignment

Assume that The AM Bakery is preparing a budget for the month ending November 30. Management prepares the budget by starting with the actual results for August that is shown below. Then, management considers what the differences in costs will be between August and November.

Bakery sales
Actual and Budgeted Costs
For the Month Ending August 31
Flour $ 3,924
Butter 3,524
Oil 1,772
Fruit 1,372
Nuts 924
Chocolate 920
Other 520
Total ingredients $ 12,956
Channel manager $ 4,800
Other 10,760
Utilities 2,520
Rent 3,720
Marketing 200
Total bakery costs $ 34,956
Revenues 52,500

Management expects revenue in November to be 30 percent higher than in August, and it expects all ingredient costs (e.g., flour, butter, and so on) to be 25 percent higher in November than in August. Management expects “other” labor costs to be 30 percent higher in November than in August, partly because more labor will be required in November and partly because employees will get a pay raise. The manager will get a pay raise that will increase his salary from $4,800 in August to $5,300 in November. Rent, utilities, and marketing costs are not expected to change.

Now, fast forward to early December and assume the following actual results occurred in November:


a. Prepare a statement that compares the budgeted and actual costs for November. (Negative amounts should be indicated by a minus sign.)

b. Suppose that you have limited time to determine why actual costs are not the same as budgeted costs. Which three cost items would you investigate to see why actual and budgeted costs are different?

  • Butter, other labor and oil
  • Flour, nuts, and butter
  • Nuts, flour, and utilities

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