AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas...

Transcribed Image Text:

AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component per Job Revenue $ 280 Actual Total for February $ 33,650 Technician wages $ 8,200 $ 8,050 Mobile lab operating expenses $ 4,800 $ 30 $ 8,540 Office expenses $ 2,400 $ 4 $ 2,770 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,880 Miscellaneous expenses $ 950 $ 1 $ 2,880 $ 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $30 per job, and the actual mobile lab operating expenses for February were $8,540. The company expected to work 130 jobs in February but actually worked 132 jobs. Required: Prepare a flexible budget performance report for February. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component per Job Revenue $ 280 Actual Total for February $ 33,650 Technician wages $ 8,200 $ 8,050 Mobile lab operating expenses $ 4,800 $ 30 $ 8,540 Office expenses $ 2,400 $ 4 $ 2,770 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,880 Miscellaneous expenses $ 950 $ 1 $ 2,880 $ 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $30 per job, and the actual mobile lab operating expenses for February were $8,540. The company expected to work 130 jobs in February but actually worked 132 jobs. Required: Prepare a flexible budget performance report for February. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.