Variance and revenue spending variance problem, Accounting Basics

+44 141 628 6080
[email protected]

Variance and revenue spending variance problem

Flexible Budget Performance Report. Corporation provides an on site air quality testing service. The following data is provided concerning its operations.

Fixed Component Variable component Per job Actual Total for Feb

Per month

Revenue 360 18950
Technician Wages 6400 6450
Mobile lab
Operating Expenses 2900 35 4530
Office Expenses 2600 2 3050
Advertising Expenses 970 995
Insurance 1680 1680
Misc Expenses 500 3 465

This company uses the number of jobs as it's measure of activity. For example mobile lab operating expenses should be 2900 plus 35 per job. The actual mobile lab operating expenses for February were 4530. The company expected to work 50 jobs in Feb but worked 52 jobs instead.

Prepare a flexible budget performance report showing the corporation's activity variance and revenue spending variance for Feb.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Variance and revenue spending variance problem

Reference No:- TGS081456

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Unamortized bond discount problem

On July 1, 2002, Moon, Inc. issued 9% bonds in the face amount of $2,000,000, which mature on July 1, 2012. The bonds were issued for $1,878,000 to yield 10%, resulting in a bond discount of $122,000. Moon uses the effective interest method of amo

Q : Problem based on marginal tax bracket

Penguin Corporation, a C corporation, has two equal shareholders, Bob and Leo. Penguin earned $100,000 net profit during its first year of operations and paid a dividend of $50,000 to each shareholder. Before considering the dividend, Bob is in th

Q : Company change in profits if the order is accepted

Current sales would not be affected by the special order and no additional fixed costs would be incurred on the special order. Missouri company's change in profits if the order is accepted will be a ______

Q : Equipment that will be used in business operations

On April 1, 2007, M Corporation paid $48,000 cash for equipment that will be used in business operations. The equipment will be used for four years and will have no residual value. M records depreciation expense of $9,000 for the calendar year end

Q : Variance and revenue spending variance problem

Prepare a flexible budget performance report showing the corporation's activity variance and revenue spending variance for Feb.

Q : Average issue price of each type of preferred stock

During the third year, Walland Corporation paid total cash dividends of $736,000. A. b. c. Compute the amount of cash dividends paid during the third year to each of the three classes of stock. Compute the dividends paid per share during the third

Q : Total costs to be assigned to inventory

Charley Company's Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. There are 9,000 units in ending work in process, all of which are 70% complete as to conversion costs. How much are total costs to be assig

Q : Stand-alone revenue-allocation method

Using the stand-alone revenue-allocation method, allocate the $380 packaged price of "All Three" to the three software products

Q : What transactions might fall under a dual method

Which bases of accounting do most companies use, cash or accrual? Why? Which method is approved by GAAP? Why? What are the positives and negatives of each? Is it legal for an organization to keep two sets of accounting records; one for tax and one

1933239

Questions
Asked

3,689

Active Tutors

1452974

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Variance and revenue spending variance problem

Reference No:- TGS081456

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Unamortized bond discount problem

Q : Problem based on marginal tax bracket

Q : Company change in profits if the order is accepted

Q : Equipment that will be used in business operations

Q : Variance and revenue spending variance problem

Q : Average issue price of each type of preferred stock

Q : Total costs to be assigned to inventory

Q : Stand-alone revenue-allocation method

Q : What transactions might fall under a dual method

Symptoms of post-severe stress disorder

Discuss patient presents with painful genital ulcers

Problem related to bypassing the screening protocol

Client with a history of chronic kidney disease is admitted

Did the cst handle this incident correctly

Patient presents with acute renal colic pain

Nurse is providing a tour of the labor and birth unit

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Variance and revenue spending variance problem

Reference No:- TGS081456

Recent Questions Asked Accounting Basics

Q : Unamortized bond discount problem

Q : Problem based on marginal tax bracket

Q : Company change in profits if the order is accepted

Q : Equipment that will be used in business operations

Q : Variance and revenue spending variance problem

Q : Average issue price of each type of preferred stock

Q : Total costs to be assigned to inventory

Q : Stand-alone revenue-allocation method

Q : What transactions might fall under a dual method

Asked Questions