Homework Help is Here – Start Your Trial Now!
Business
Accounting
Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November Customers served Revenue ($3.60q) Expenses: Wages and salaries ($23,000+ $1.200) Supplies ($0.50q) Insurance ($ 6,100) Miscellaneous expense ($4,900+ $0.404) Total expense Net operating income Customers served Revenue Expenses Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Actual Results 24,000 Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue and Spending Variances Flexible Budget 24,800 $ 88,500 24,000 49,300 13,800 6,000 12,300 81,400 $ 7,100 Planning Budget 26,000 $93,600 54,200 13,000 6,100 Activity Variances 15,300 88,600 $ 5,000 Planning Budget Variances $ 5,100 U 26.000 4,900 F 800 U 100 F 3,000 F 7,200 F $ 2,100 F

Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November Customers served Revenue ($3.60q) Expenses: Wages and salaries ($23,000+ $1.200) Supplies ($0.50q) Insurance ($ 6,100) Miscellaneous expense ($4,900+ $0.404) Total expense Net operating income Customers served Revenue Expenses Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Actual Results 24,000 Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue and Spending Variances Flexible Budget 24,800 $ 88,500 24,000 49,300 13,800 6,000 12,300 81,400 $ 7,100 Planning Budget 26,000 $93,600 54,200 13,000 6,100 Activity Variances 15,300 88,600 $ 5,000 Planning Budget Variances $ 5,100 U 26.000 4,900 F 800 U 100 F 3,000 F 7,200 F $ 2,100 F

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
icon
Concept explainers
Question
Please don't give image format and fast answering
Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November Customers served Revenue ($3.60g) Expenses: Wages and salaries ($23,000+ $1.204) Supplies ($0.50q) Insurance ($ 6,100) Miscellaneous expense ($4,900+ $0.404) Total expense Net operating income Customers served Revenue Expenses Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results 24,800 $ 88,500 Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Actual Results Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 24,000 Revenue and Spending Variances Flexible Budget 49,300 13,800 6,000 12,300 81,400 $ 7,100 24,000 Planning Budget 26,000 $93,600 54,200 13,000 6,100 15,300 88,600 $ 5,000 Activity Variances Planning Budget Variances 26.000 $5,100 U 4,900 F 800 U 100 F 3,000 F 7,200 F $ 2,100 F
Transcribed Image Text:Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November Customers served Revenue ($3.60g) Expenses: Wages and salaries ($23,000+ $1.204) Supplies ($0.50q) Insurance ($ 6,100) Miscellaneous expense ($4,900+ $0.404) Total expense Net operating income Customers served Revenue Expenses Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results 24,800 $ 88,500 Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Actual Results Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 24,000 Revenue and Spending Variances Flexible Budget 49,300 13,800 6,000 12,300 81,400 $ 7,100 24,000 Planning Budget 26,000 $93,600 54,200 13,000 6,100 15,300 88,600 $ 5,000 Activity Variances Planning Budget Variances 26.000 $5,100 U 4,900 F 800 U 100 F 3,000 F 7,200 F $ 2,100 F
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Budgeting
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS