Bruer Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures ofactivity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tourguide. The company uses the following data in its budgeting:RevenueTour guide wagesVehicle expensesAdministrative expensesFixed elementVariableelement perVariableelement perper monthguestjeep$ 0$ 179$ 0$ 0$ 0$ 180$ 5,800$ 2,900$ 19$ 10$ 57$ 0In November, the company budgeted for 366 guests and 161 jeeps. The actual activity for the month was 382 guests and 148 jeeps.Required:Prepare a report showing the company's activity variances for November. Label each variance as favorable (F) or unfavorable (U).Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.GuestsJeepsRevenueExpenses:Tour guide wagesVehicle expensesAdministrative expensesBruer Jeep ToursActivity VariancesFor the Month Ended November 30PlanningFlexible BudgetActivity VariancesBudget382366148161

Activity variances play a crucial role in budgeting and performance evaluation for businesses like…

Answered: Bruer Jeep Tours operates jeep tours in…

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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NEED HELP ASAP!!!! Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: Fixed element per month Variable element per guest Variable element per jeep $0 $ 287 $0 Tour guide wages $0 $0 $ 154 Vehicle expenses $ 6,300 $ 22 $77 Administrative expenses $ 2,800 $ 21 $0 In May, the company budgeted for 532 guests and 237 jeeps. The company's income statement showing the actual results for the month appears below: Revenue Cryan Jeep Tours Income Statement For the Month Ended May 31 Actual guests Actual jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income 547 232 $ 122,854 38,757 24,140 11,388 74,285 $ 48,569 Required: Prepare a report showing the company's revenue…
Grohs Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During December, the kennel budgeted for 2,500 tenant-days, but its actual level of activity was 2,530 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: Fixed Element per Month Variable element per tenant-day Revenue $ 0 $33.00 Wages and salaries $ 3,800 $ 7.90 Food and supplies 1,000 11.60 Facility expenses 8,600 2.20 Administrative expenses 6,200 0.20 Total expenses $19,600 $21.90 The net operating income in the planning budget for December would be closest to: Multiple Choice A. $8,150 B. $11,914 C. $8,483 D. $11,633
Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Planning Budget Flexible Actual Results Budget Courses Students 42 Revenue 32,400 Expenses: Instructor wages 9,080 Classroom supplies 8,540 Utilities 1,530 Campus rent 4,200 Insurance 1,890 Administrative expenses 3,790 Total expense 29,030 Net operating income 3,370 3. %24 %24
4 Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 85 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Vessel operating costs. Advertising Administrative costs Insurance Fixed Cost per Cost per Month Cruise $ 6,700 $ 473.00 $3,000 $ 5,100 $ 3,400 $ 40.00 Cost per Passenger $ 3.10 $ 1.50 For example, vessel operating costs should be $6,700 per month plus $473.00 per cruise plus $3.10 per passenger. The company's sales should average $28.00 per passenger. In July, the company provided 56 cruises for a total of 3,050 passengers.
Please help me with required a and required b and required c thanku
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Wildhorse's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows: Restorers' wages and benefits Purchasing agent's salary and benefits Administrative salaries and benefits Other overhead costs Total budgeted costs (a1) Your answer is correct. Profit margin $ eTextbook and Media (a2) The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,200,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $60.00 and that the material loading charge was 83.80%. Your answer is correct. Time Charges Material Loading Charges Profit margin (a3) $329,400 Determine the profit margin per hour on labor. (Round answer to 2 decimal places, e.g. 15.25.) eTextbook and Media 73,200 24,400 $427,000 Total price of labor and materials $ Determine the profit margin on…
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 63 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per Month Revenue Instructor wages Classroom supplies Utilities $ 1,210 $ 4,800 $ 2,400 $ 3,500 Campus rent Insurance Administrative expenses Cost per Course $ 2,930 $75 $ 45 For example, administrative expenses should be $3,500 per month plus $45 per course plus $6 per student. The company's sales should average $860 per student. Cost per Student $300 The company planned to run four courses with a total of 63 students; however, it actually ran four courses with a total of only 59 students.…
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Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 86 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Fixed Cost per Month $ 6,400 $ 2,500 $ 5,600 $ 3,300 Cost per Cruise $ 480.00 Cost per Passenger $ 3.30 Vessel operating costs Advertising Administrative costs $ 38.00 $ 1.50 Insurance For example, vessel operating costs should be $6,400 per month plus $480.00 per cruise plus $3.30 per passenger. The company's sales should average $30.00 per passenger. In July, the company provided 58 cruises for a total of 3,200 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible…
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Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management identified two cost drivers for budgeting purposes-the number of cruises and the number of passengers. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 87 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Vessel operating costs Advertising Administrative costs Insurance For example, vessel operating costs should be $6,500 per month plus $475.00 per cruise plus $3.10 per passenger. The company's sales should average $34.00 per passenger. In July, the company provided 57 cruises for a total of 3,150 passengers. Required: Prepare the company's flexible budget for July. Revenue Expenses: Fixed Cost per Cost per Month Cruise $6,500 $475.00 $ 2,100 $ 5,700 $31.00 $ 3,500 Alyeski Tours Flexible Budget For the Month Ended July 31 Vessel operating…

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