AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost...
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AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Variable Fixed Component Component per per Month Actual Total for February $ 30,490 $ 8,050 $ 8,800 $ 2,910 $ 1,660 $ 2,850 Job $ 277 Revenue Technician wagea Mobile lab operating expensee OFfice expennes Advertieing expenses Insurance Miscellaneous expenses $ 8,200 $ 5,000 $ 2,700 $ 1,590 $ 2,850 $ 980 $33 $ 3 $ 1 405 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $5,000 plus $33 per Job, and the actual mobile lab operating expenses for February were $8,800. The company expected to work 120 Jobs in February, but actually worked 126 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity varlances for February. (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 Flexible Budget Performance Report For the Month Ended February 28 Actual Results Flexible Budget Planning Budget Jobs 126 Revenue $ 30,490 Expenses: Technician wages 8,050 Mobile lab operating 8,800 tmxnnnses < Prov 10 of 14 Next > AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Variable Fixed Component Component per per Month Actual Total for February $ 30,490 $ 8,050 $ 8,800 $ 2,910 $ 1,660 $ 2,850 Job $ 277 Revenue Technician wagea Mobile lab operating expensee OFfice expennes Advertieing expenses Insurance Miscellaneous expenses $ 8,200 $ 5,000 $ 2,700 $ 1,590 $ 2,850 $ 980 $33 $ 3 $ 1 405 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $5,000 plus $33 per Job, and the actual mobile lab operating expenses for February were $8,800. The company expected to work 120 Jobs in February, but actually worked 126 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity varlances for February. (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 Flexible Budget Performance Report For the Month Ended February 28 Actual Results Flexible Budget Planning Budget Jobs 126 Revenue $ 30,490 Expenses: Technician wages 8,050 Mobile lab operating 8,800 tmxnnnses < Prov 10 of 14 Next >
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Solution A Herible budget perfarmynce Airaial Test CoAporations sev... View the full answer
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Posted Date:
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