[The following information applles to the questions displayed below.]ABC Corporation Is a service company that measures Its output based on the number of customers served. The companyprovided the following fixed and varlable cost estimates that It uses for budgeting purposes and the actual results for Mayas shown below:ActualTotalfor May$ 223,500$ 126,00020,400S.44,300FixedElementVariable Elementper Month per Customer Served$6,100$ 1,500RevenueEmployee salaries and wagesTravel expensesother expenses$ 68,000$ 47,000When preparing Its plannlng budget the company estimated that It would serve 35 customers per month; however, duringMay the company actually served 40 customers.14. What activity varlance would Adger report In May with respect to Its revenue? (Indicate the effect of each varlance by selecting"F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values.)Activity variance

Fixed element per month Variable element per customer served Actual total for May Revenue…

ABC Corporation Is a service company that measures Its output based on the number of customers served. The company provided the following fixed and varlable cost estimates that It uses for budgeting purposes and the actual results for May as shown below: Actual Total Fixed Element Variable Element per Month per Customer Served $ 6,100 $ 1,500 for May $223,500 $126,000 $ 20,400 $44,300 Revenue $ 68,000 Employee salaries and wages Travel expenses other expenses 24 600 $ 47,000

ABC Corporation Is a service company that measures Its output based on the number of customers served. The company provided the following fixed and varlable cost estimates that It uses for budgeting purposes and the actual results for May as shown below: Actual Total Fixed Element Variable Element per Month per Customer Served $ 6,100 $ 1,500 for May $223,500 $126,000 $ 20,400 $44,300 Revenue $ 68,000 Employee salaries and wages Travel expenses other expenses 24 600 $ 47,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Ashvin
None
None
TV Timers, Incorporated, manufactures time control devices for TV's. The firm has the following operating data for its operations in July: Actual market size Budgeted market size Actual market share Budgeted market share Budgeted average contribution margin Actual average contribution margin What is the company's market share variance? A. $1,590 favorable. B. $1,784 favorable. C. $1,740 favorable. D. $2,070 favorable. E. $3,660 favorable. 14,500 16,300 34% 32% $6.00 $5.25
Subject: accounting
Winston Company had two products code named X and Y. The firm had the following budget for August: Product X $ 296,040 197,360 $ 98,680 50,000 Product Y $ 541,000 216,400 $324,600 108,000 $216,600 $ 50 $ 48,680 $ 120 Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit On September 1, the following actual operating results for August were reported: Product X $366,800 203,500 $ 163,300 58,500 $ 104,800 3,170 Sales Variable Costs Contribution Margin Fixed costs Operating Income Units Sold Product Y $ 546,800 224,500 $322,300 116,500 $ 205,800 9,850 Total industry volume for both products X and Y was estimated to be 138,500 units at the time of the budget. Actual industry volume for the period for products X and Y was 106,800 units. The contribution margin sales volume variance for Product X is: Multiple Choice $12,500 unfavorable. $15,800 favorable. $23,200 favorable. $23,200 unfavorable. Total $ 837, 040 413,760 $ 423,280 158,000 $ 265,280 $28,120…
Please use following terms and organize income statements correctly please with numbers thank you
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Cost Formulas $16.60q $4,300 +$1.60q $5,700 +$0.40q Supplies $1,200 + $0.20q Equipment depreciation Factory rent $18,600 + $2.80q $8,400 $2,500 Property taxes Factory administration $13,100 +$0.50q The Production Department planned to work 4,500 labor-hours in March; however, it actually worked 4,300 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 73,020 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 10,680 $ 7,890 $ 2,310 $ 30,640 $ 8,800 $ 2,500 $ 14,580 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production…
Prestridge Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for August. Fixed Element per Month Revenue Variable Element per Customer Served $ 4,100 Actual Total for August $ 120,500 Employee salaries and wages $ 41,500 $ 1,000 $ 71,200 Travel expenses $ 500 $ 14,800 Other expenses $ 38,900 $ 38,400 When the company prepared its planning budget at the beginning of August, it assumed that 31 customers would have been served. However, 29 customers were actually served during August. The spending variance for total expenses for August would have been closest to: