Course Outcomes
Interpret costs and behavior concepts tied to the management planning and decision making process.Evaluate the outcomes of past financial operations to predict future decisions.Solve technology challenges, maintain systems, analyze data, and communicate results using business related computer applications.
Institutional Outcomes
- Information Literacy and Communication - Utilize appropriate current technology and resources to locate and evaluate information needed to accomplish a goal, and then communicate findings in visual, written and/or oral formats.
- Relational Learning - Transfer knowledge, skills and behaviors acquired through formal and informal learning and life experiences to new situations.
- Thinking Abilities - Employ strategies for reflection on learning and practice in order to adjust learning processes for continual improvement.
Flexible Budget Performance Report
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following data concerning its operations:
|
|
Fixed Component per month
|
Variable Component per job
|
Actual total for February
|
|
Revenue
|
|
$360
|
$18,950
|
|
Technician wages
|
$6,400
|
|
$6,450
|
|
Mobile lab operating expenses
|
$2,900
|
$35
|
$4,530
|
|
Office expenses
|
$2,600
|
$2
|
$3,050
|
|
Advertising expenses
|
$970
|
|
$995
|
|
Insurance
|
$1,680
|
|
$1,680
|
|
Miscellaneous expenses
|
$500
|
$3
|
$465
|
The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses for February were $4,530.
The company expected to work 50 jobs in February, but actually worked 52 jobs.
Required: Use the template provided, save it to your desktop and then upload and submit your assignment.
Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February.
AirQual Test Corporation
Flexible Budget Performance Report
For the Month Ended February 28