AJR Research Group is a company that provides research services to clients in the metro area. The company's planning budget for June appears below. AJR Research Group Flexible Budget For the Month Ended June 30 Budgeted research hours (hrs) 100 Revenue ( $365 /hr) $36,500 Expenses Wages and salaries ( $8,000 + Supplies $ 125 /hr) $ 20,500 ( $3.00 /hr) Databases service ( $1,800 + $ 32 /hr) 300 5,000 3,400 Insurance ( $3,400 ) Miscellaneous $630 + $1.80 /hr) 810 $ 30,010 6,490 Total expense Net operating income During June, the company's activity was actually 110 research hours. Prepare a flexible budget for that level of activity. What amount of of employee salaries and wages are included in the flexible budget for June? a. $22,375 b. $20,500 c. $21,125 d. $21,750
AJR Research Group is a company that provides research services to clients in the metro area. The company's planning budget for June appears below. AJR Research Group Flexible Budget For the Month Ended June 30 Budgeted research hours (hrs) 100 Revenue ( $365 /hr) $36,500 Expenses Wages and salaries ( $8,000 + Supplies $ 125 /hr) $ 20,500 ( $3.00 /hr) Databases service ( $1,800 + $ 32 /hr) 300 5,000 3,400 Insurance ( $3,400 ) Miscellaneous $630 + $1.80 /hr) 810 $ 30,010 6,490 Total expense Net operating income During June, the company's activity was actually 110 research hours. Prepare a flexible budget for that level of activity. What amount of of employee salaries and wages are included in the flexible budget for June? a. $22,375 b. $20,500 c. $21,125 d. $21,750
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Help9
Transcribed Image Text:AJR Research Group is a company that provides research services to clients in the metro area. The company's planning budget for June appears below.
AJR Research Group
Flexible Budget
For the Month Ended June 30
Budgeted research hours (hrs)
100
Revenue
( $365 /hr)
$36,500
Expenses
Wages and salaries ( $8,000 +
Supplies
$ 125 /hr) $ 20,500
( $3.00 /hr)
Databases service ( $1,800 + $ 32 /hr)
300
5,000
3,400
Insurance
( $3,400 )
Miscellaneous
$630 + $1.80 /hr)
810
$ 30,010
6,490
Total expense
Net operating income
During June, the company's activity was actually 110 research hours. Prepare a flexible budget for that level of activity. What amount of of employee salaries and wages are
included in the flexible budget for June?
a. $22,375
b. $20,500
c. $21,125
d. $21,750
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education