Wolfpack Inc. operates concession stands at a college football stadium. It uses sodas sold as its...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Wolfpack Inc. operates concession stands at a college football stadium. It uses sodas sold as its measure of activity. Monthly planning budget amounts and actual results for the month of October are given in the table below. Actual Revenue Flexible-budget Activity Planning Total Variances (Static) Variance Budget Results & Spending Variances 30,000 Sodas sold 30,000 Revenue $105,500 $112,000 ($3.50g) Expenses: COGS |($1.00q) Wages $31,000 $32,000 $11,800 $12,200 and salaries |($9,000 + $.10q) $4,400 $4,800 Supplies ($.15q) $5,550 $5,600 Insurance ($5,000 + $.05q) Rent $3,800 $4,000 |($4,000) Total $56,550 $58,600 expenses Net $48,950 $53,400 operating income Compute the "Revenue & Spending" variance for Insurance for October Wolfpack Inc. operates concession stands at a college football stadium. It uses sodas sold as its measure of activity. Monthly planning budget amounts and actual results for the month of October are given in the table below. Actual Revenue Flexible-budget Activity Planning Total Variances (Static) Variance Budget Results & Spending Variances 30,000 Sodas sold 30,000 Revenue $105,500 $112,000 ($3.50g) Expenses: COGS |($1.00q) Wages $31,000 $32,000 $11,800 $12,200 and salaries |($9,000 + $.10q) $4,400 $4,800 Supplies ($.15q) $5,550 $5,600 Insurance ($5,000 + $.05q) Rent $3,800 $4,000 |($4,000) Total $56,550 $58,600 expenses Net $48,950 $53,400 operating income Compute the "Revenue & Spending" variance for Insurance for October
Expert Answer:
Answer rating: 100% (QA)
Complete required solution Activity variance for insurance Static budget insura... View the full answer
Related Book For
College Physics Reasoning and Relationships
ISBN: 978-0840058195
2nd edition
Authors: Nicholas Giordano
Posted Date:
Students also viewed these accounting questions
-
REGULATED POWER SUPPLY 1. AIM Design question: Design and realise a regulated power supply with following minimum specifications. Load voltage-adjustable from 1.25 V-18 V. Maximum load current -0.75...
-
The data given in the table below are the midterm scores in a course for a sample of 10 students and the scores of student evaluations of the instructor. (In the instructor evaluation scores, 1 is...
-
The Unruh Company reports the following results for the month of November: Sales (10,000 units) ..... $600,000 Variable costs ....... 420,000 Contribution margin .... 180,000 Fixed costs ............
-
Data visualization can help Broadway theatre analysts to understand ticket pricesExample: Recall the Service Company Insight box How Much Did You Pay for That Seat? presented in the chapter. As...
-
A rare nonlethal disease (ND) that develops during adolescence is believed to be associated with a certain recessive genotype (aa) at a certain locus. It is known that in a population 5% of adults...
-
(a) write the linear function f that has the given function values (b) sketch the graph of the function. f(2) = 6, f(1) = 3
-
What purposes are served in confirming debt with holders?
-
Budgets for production and direct manufacturing labor. (CMA, adapted) Roletter Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Bob Anderson,...
-
Assume that a Temperature Sensor is interfaced to 8 0 5 1 microcontroller to sense the temperature of the room. Design a block diagram and a circuit diagram to explain the interfacing of the...
-
On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by investing $12,000 cash in the business. Following are the assets and liabilities of the company at...
-
Identify and describe three possible sources of risks and opportunities that need to be addressed in order to give assurance that the EMS can achieve its intended outcomes. Give an example of each.
-
Discuss the status of an auditor in the company.
-
While examining the accounts of a company, you find the following items on credit side of profit and loss account: (a) Profit on revaluation of land. (b) Bounties received from Central Government....
-
Intangible Assets are not always Fictitious Assets. Illustrate.
-
What do you mean by fictitious assets? Give example.
-
State the provisions of the Companies Act, 1956 regarding declaration and payment of interim dividend. What would be the duty of an auditor in connection with such a dividend?
-
If you declare a variable in C++ and use it before initializing it what the compiler will generate?
-
Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series for each function. y = e x2 cos x
-
What is the approximate location of the center of mass of the boomerang in Figure Q7.3? Figure Q7.3 ? y
-
Calculate the speed v of a typical hydrogen molecule in the Earths atmosphere. Is v less than or greater than the escape speed? Experiments show that a hydrogen molecule released into the atmosphere...
-
Give an example of motion for which the average velocity is equal to the instantaneous velocity.
-
Owing to a small federal grant from the Department of Housing and Urban Development (HUD) to the Town of Stillman, Nadine Gordimer, CPA has performed grant audits for the town in each of the past...
-
Michael Cunningham, CPA is preparing a report on internal control in conjunction with an audit of the City of Warwick's June 30, 1999 financial statements. The audit is being conducted in accordance...
-
As a GAO auditor, you have been assigned to perform an audit of a Department of Education School Breakfast Program. The Department had instructed all schools to order commodities in economical...
Study smarter with the SolutionInn App