Question: Interpret a flexible budget graph (Learning Objective 1) Look at Kool-Times graph of actual and budgeted monthly costs in Exhibit 11-5. 1. How many pools

Interpret a flexible budget graph (Learning Objective 1)

Look at Kool-Time’s graph of actual and budgeted monthly costs in Exhibit 11-5.

1. How many pools did Kool-Time install in May?

2. How much were Kool-Time’s actual expenses in May?

3. Using Kool-Time’s flexible budget formula, what is the flexible budget total cost for May?

4. What is Kool-Time’s flexible budget variance for total costs? Is the variance favorable or unfavorable in May?

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