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 Vari

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