ake's Roof Repair provided the following data concerning its costs: Cost per Repair-Hour Fixed Cost per Month Wages and salaries $ 21,100 $ 15.00 Parts and supplies $ 7.40 Equipment depreciation $ 2,750 $ 0.55 Truck operating expenses $ 5,730 $ 1.70. Rent $ 4,690 Administrative expenses $ 3,850 $ 0.70 For example, wages and salaries should be $21,100 plus $15.00 per repair-hour. The company expected to work 2,600 repair-hours in May but actually worked 2,500 repair-hours. The company expects its sales to be $47.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect li e zero

ake's Roof Repair provided the following data concerning its costs: Cost per Repair-Hour Fixed Cost per Month Wages and salaries $ 21,100 $ 15.00 Parts and supplies $ 7.40 Equipment depreciation $ 2,750 $ 0.55 Truck operating expenses $ 5,730 $ 1.70. Rent $ 4,690 Administrative expenses $ 3,850 $ 0.70 For example, wages and salaries should be $21,100 plus $15.00 per repair-hour. The company expected to work 2,600 repair-hours in May but actually worked 2,500 repair-hours. The company expects its sales to be $47.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect li e zero

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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