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appear below Instructor wages Classroom supplies Utilities Fixed Cost per Month $ 1,220 $ 5,100 Cost per Course $ 2,930 Cost per Student $ 270 $ 80 Campus rent Insurance Administrative expenses $ 2,400 $ 3,600 $ 40 $ 3 For example, administrative expenses should be $3,600 per month plus $40 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: Actual $ 54,060 $ 11,000 $ 17,130 $ 1,950 $ 5,100 $ 2,540 $ 3,378 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September.

appear below Instructor wages Classroom supplies Utilities Fixed Cost per Month $ 1,220 $ 5,100 Cost per Course $ 2,930 Cost per Student $ 270 $ 80 Campus rent Insurance Administrative expenses $ 2,400 $ 3,600 $ 40 $ 3 For example, administrative expenses should be $3,600 per month plus $40 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: Actual $ 54,060 $ 11,000 $ 17,130 $ 1,950 $ 5,100 $ 2,540 $ 3,378 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September.

FINANCIAL ACCOUNTING
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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appear below Instructor wages Classroom supplies Utilities Fixed Cost per Month $ 1,220 $ 5,100 Cost per Course $ 2,930 Cost per Student $ 270 $ 80 Campus rent Insurance Administrative expenses $ 2,400 $ 3,600 $ 40 $ 3 For example, administrative expenses should be $3,600 per month plus $40 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: Actual $ 54,060 $ 11,000 $ 17,130 $ 1,950 $ 5,100 $ 2,540 $ 3,378 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September.
Transcribed Image Text:appear below Instructor wages Classroom supplies Utilities Fixed Cost per Month $ 1,220 $ 5,100 Cost per Course $ 2,930 Cost per Student $ 270 $ 80 Campus rent Insurance Administrative expenses $ 2,400 $ 3,600 $ 40 $ 3 For example, administrative expenses should be $3,600 per month plus $40 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: Actual $ 54,060 $ 11,000 $ 17,130 $ 1,950 $ 5,100 $ 2,540 $ 3,378 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September.
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