Market Research, Inc., is a marketing consulting firm that earns revenues by billing clients for hours worked.
Question:
Prepare a profit variance analysis for the company.
Transcribed Image Text:
Billable Hours Revenue. Costs: Actual Results 22,000 Hours $2,200,000 Master Budget 20,000 Hours $2,000,000 Professional Salaries (all variable). Other Variable Costs 1,350,000 1,100,000 (e.g., supplies, certain computer services) General Administrative (all fixed). Corporate Client Profit. 250,000 400,000 200,000 400,000 $300,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
1 2 3 4 5 6 7 Actual Flexible Master based on Budget Budget actual based on based on activ...View the full answer
Answered By
MICHAEL KICHE
I was employed studypool for the first time in tutoring. I did well since most of my students and clients got the necessary information and knowledge requested for. I always submitted the answers in time and followed the correct formatting in answering eg MLA or APA format,
Again I worked with the writers bay where I did writing and got many clients whom we worked with so closely. They enjoyed every single service I delivered to them. My answers are always correct.
4.70+
13+ Reviews
53+ Question Solved
Related Book For
Managerial Accounting An Introduction to Concepts Methods and Uses
ISBN: 978-1111571269
11th edition
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
Question Posted:
Students also viewed these Managerial Accounting questions
-
Sell, Inc., is a marketing consulting firm that earns revenues by billing clients for hours worked. Last year, Sell, Inc.'s billable hours were up 10 percent from expected levels, but, as the...
-
HispanoClick.com is a marketing consulting and advertising firm that helps companies market products to Hispanic consumers. Visit the firm's Web site (www.hispanoclick.com). Click on the "solutions"...
-
Troy Manufacturing, Inc., produces exercise bicycles. The costs of manufacturing and marketing exercise bicycles at the company's normal volume of 3,000 units per month follow: Unless otherwise...
-
Corning-Howell reported taxable income in 2013 of $120 million. At December 31, 2013, the reported amount of some assets and liabilities in the financial statements differed from their tax bases as...
-
Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as you learn the content of each...
-
Morton Company's contribution format income statement for last month is given below: Sales (15,000 units $30 per unit) . . . . . . . . . $450,000 Variable expenses . . . . . . . . . . . . . . . . ....
-
Royal Auto Ltd operates a car sales business with two departments new cars and secondhand cars. The companys accountant has prepared a statement of financial performance for the year ending 30 June...
-
Jim Olsen earns $800 per week for a five day week, and he is entitled to 12 paid holidays and four weeks of paid vacation. a. Over how many weeks should the holiday pay and vacation pay be expensed?...
-
The Offline Impact of Online Ads-The Harvard Business Review article-https://services.hbsp.harvard.edu/api/courses/1087075/items/F0804H-PDF-ENG/sclinks/5f6f170df4f4c8c9f395f8a4f24d243a What is the...
-
Description of Assignment: Task 1: In class test (AC1.1, 1.2, 1.3): The 1-hour test will take place on May 26 th at 1.30. Read through the assessment criteria so that you understand what you need to...
-
In some companies, managers get workers involved in setting standards. What are the benefits of worker involvement in setting the standards?
-
New Zealand Company produces computers and computer components. The company is organized into several divisions that operate essentially as autonomous companies. The firm permits division managers to...
-
Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $140,000. The seller agreed to allow a 4 percent discount because Southwest Milling paid...
-
If a business has an asset turnover (Sales/Assets) of 5, plans to continue its current strategy, and wants to increase sales by $1,000,000, in general, then assets will need to be increased by what...
-
On April 1, Flavin Co. paid $12,000 cash for an insurance policy that provides coverage for one year beginning immediately. On December 31, Flavin adjusted the books to recognize the amount of the...
-
A company disburses a total of Tsh 50,000,000 per year on cash. It costs Tsh 75 on average every time securities are sold for cash. The treasury manager estimates that the variance of change in daily...
-
Kelsy Diner's net income for the year ended October 3 1 , 2 0 2 0 was $ 9 4 , 0 0 0 . Additional information is shown below. Interest expense on borrowing $ 6 , 9 0 0 Increase in accounts receivable...
-
Water Sport Inc. manufactures a small personal water tube used for children learning to swim. Management is now preparing detailed budgets for the third quarter, July through September, and has...
-
The devices below are all used in electronic circuits. Which of the above is best described by each of the following statements? a. Glows when a small current flows in it. b. Links two circuits so...
-
Respond to the ethical judgments required based on the following scenarios. Scenario 1. Assume you have collected a sample using MUS and that you have evaluated that sample to calculate a total...
-
What basis or cost driver does a company using a single plantwide rate typically select for the allocation of indirect costs?
-
What are the four basic steps required for activity-based costing?
-
Give the criterion for choosing cost drivers for allocating costs to products.
-
After you've completed this week's assigned reading, watch the video below. Next, respond to the Discussion questions underneath. Your first post should answer those questions and should be made by...
-
Factorize (x4 - 20x + 100)
-
Paragraph discussing food insecurity in the United States. What agencies in the federal government play an important role in ameliorating this situation? What groups of people are at particular risk?
Study smarter with the SolutionInn App