Bickel Corporation uses customers served as its measure of activity. The following report compares the planning...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November: Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Variances Customers served Actual Results Planning Budget 26,100 26,500 Revenue ($3.60q) $ 93,200 $ 96,000 $ 5,800 U Expenses: 50,400 Wages and salaries ($23,700+ $1.20g) Supplies ($0.50g) 56,700 4,800 F 14,500 14,000 2,000 U Insurance ($ 7,200) 7,100 7,200 Miscellaneous expense ($6,000+ $0.40g) 13,400 19,000 4,100 F Total expense 80,900 93,900 7,000 F Net operating income $ 7,800 $6,600 $ 2,700 F Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (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.) Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Activity Variances Planning Budget Customers served 26,500 Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Actual Results 26,100 Revenue and Spending Flexible Variances Budget 26,100 100 None Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November: Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Variances Customers served Actual Results Planning Budget 26,100 26,500 Revenue ($3.60q) $ 93,200 $ 96,000 $ 5,800 U Expenses: 50,400 Wages and salaries ($23,700+ $1.20g) Supplies ($0.50g) 56,700 4,800 F 14,500 14,000 2,000 U Insurance ($ 7,200) 7,100 7,200 Miscellaneous expense ($6,000+ $0.40g) 13,400 19,000 4,100 F Total expense 80,900 93,900 7,000 F Net operating income $ 7,800 $6,600 $ 2,700 F Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (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.) Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Activity Variances Planning Budget Customers served 26,500 Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Actual Results 26,100 Revenue and Spending Flexible Variances Budget 26,100 100 None
Expert Answer:
Answer rating: 100% (QA)
Flexible budget performance report is prepared as under Actual Revenue and Spending va... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0078111006
14th edition
Authors: Ray Garrison, Eric Noreen and Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
Apple Corporation uses customers served as its measure of activity. Its budget assumption and actual customers served are shown below as well as the static budget assumptions for the month...
-
Mieras Corporation uses customers served as its measure of activity. During January, the company budgeted for 37,600 customers, but actually served 35,500 customers. The company uses the following...
-
Determine each of the following as being either true or false. If an angle has a cosine of 0.2, then the secant of the angle is 5.
-
What are the differences between trading securities, available-for-sale securities, and held-to-maturity securities?
-
Electric power is to be generated in a hydroelectric power plant that receives water at a rate of 70 m3/s from an elevation of 65 m using a turbine-generator with an efficiency of 85 percent. When...
-
A \(\$ 100,000\) bond priced at 103.5 can be bought or sold for a. \(\$ 100,000+\) interest b. \(\$ 103,500\) c. \(\$ 3,500\) d. \(\$ 10,350\)
-
Baker, CPA, was engaged to audit Mill Company's financial statements for the year ended September 30, 20X1. After obtaining an understanding of Mill's internal control structure, Baker decided to...
-
To complete this activity: Perform research using the links provided and answer the following questions. Provide short answers to the questions in the interest of time. Ontario Student Assistance...
-
1. Bare cost and total cost (incl. O&P) of formwork for spread footings (20 pts, specify which lines (or index) in RSMeans data are used) 2. Bare cost and total cost of reinforcement for spread...
-
Using only the sensitivity report given below, answer the following questions. Give as much information as possible regarding changes to the objective function value and/or changes to the optimal...
-
Why did life insurance companies develop universal life and variable life policies? What additional benefits do these products offer to consumers? What resulting balance sheet changes did the new...
-
Discuss why it is important to have clear boundaries in HRM. Discuss how responsibilities should be distributed among local, regional, and global HR units. Explain how HRM responsibilities should be...
-
During an on-site survey, the program staff seems very anxious about how the survey is progressing. Upon questioning, a few of the staff members imply that the program has a lot of issues, but that...
-
How does volume projections contribute to analyzing marketing performance? How should the marketing manager respond to shifts and trends in the metric, if used on a marketing dashboard?
-
The income statement for Salt Creek Golf Club for the month ending July 31 shows Service Revenue $17,400, Salaries and Wages Expense $7,900, Maintenance and Repairs Expense $2,400, and Net Income...
-
(b) Consider Aparticle of mass m is confined within a cylindrical cavity having curved boundaries at p = a and z = L/2. Obtain the solution of the time-independent Schrger equation - (F) = E(F) 2m...
-
Funds are separate fiscal and accounting entities, each with its own self-balancing set of accounts. The newly established Society for Ethical Teachings maintains two funds-a general fund for...
-
Pick any major television network and describe some planning and control activities that its managers would engage in.
-
Capricio Enterprises distributes a single product whose selling price is $19 and whose variable expense is $15 per unit. The companys fixed expense is $12,000 per month. Required: 1. Prepare a profit...
-
What is meant by the term sales mix? What assumption is usually made concerning sales mix in CVP analysis?
-
The two degree-of-freedom system in Figure 6.64 undergoes rectilinear motion. (a) Derive the flexibility influence coefficients. (b) Derive the stiffness influence coefficients. (c) Find the inverse...
-
For the double pendulum of Figure 6.66, derive the equations of motion using (a) Newton's second law, and (b) Lagrange's equation. L 0 m m Figure 6.66: Double pendulum.
-
For the triple pendulum of Figure 6.65, determine the flexibility influence coefficients that relate the horizontal forces and the horizontal displacements. Find the inverse of the matrix of...
Study smarter with the SolutionInn App