Customers served (q) 34,000 Revenue ($3.50q) $ 119,800 $ 800 Expenses: Wages and salaries ($33,200+ $1.10q) Supplies ($0.50q) Insurance ($10,400) Miscellaneous expense ($6,400 + $0.309) Total expense Net operating income $ 68,000 14,400 10,400 17,700 110,500 9,300 2,600 Which of the following statement is true? 2,600 0 1,100 4,100 $ 4,900 34,000 $ 119,000 $ 70,600 17,000 10,400 16,600 114,600 4,400 $ 3,500 1,100 O The activity variance for supplies of $500 is unfavorable. O The revenue and spending variance for wages and salaries of $2,600 is unfavorable. The activity variance for revenue of $3,500 is unfavorable. The revenue and spending variance for total expense of $4,100 is unfavorable. 500 0 300 1,900 $ 1,600 35,000 $ 112,500 71,700 17,500 10,400 16,900 116,500 $ 6,000

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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Customers served (q)
Revenue ($3.50q) $ 119,800 $ 800
Expenses:
Wages and salaries
($33,200+ $1.10q)
Supplies ($0.50q)
Insurance ($10,400)
Miscellaneous
expense ($6,400 +
$0.309)
Total expense
34,000
Net operating income $
68,000
14,400
10,400
17,700
110,500
9,300
2,600
Which of the following statement is true?
2,600
0
1,100
4,100
$ 4,900
Manaloto uses variable costing to cost inventories, then only
$
34,000
$ 119,000
70,600
17,000
10,400
16,600
114,600
4,400
$ 3,500
1,100
O The activity variance for supplies of $500 is unfavorable.
The revenue and spending variance for wages and salaries of $2,600 is unfavorable.
The activity variance for revenue of $3,500 is unfavorable.
O The revenue and spending variance for total expense of $4,100 is unfavorable.
500
0
300
1,900
$ 1,600
35,000
$ 112,500
$
71,700
17,500
10,400
16,900
116,500
6,000
Transcribed Image Text:Customers served (q) Revenue ($3.50q) $ 119,800 $ 800 Expenses: Wages and salaries ($33,200+ $1.10q) Supplies ($0.50q) Insurance ($10,400) Miscellaneous expense ($6,400 + $0.309) Total expense 34,000 Net operating income $ 68,000 14,400 10,400 17,700 110,500 9,300 2,600 Which of the following statement is true? 2,600 0 1,100 4,100 $ 4,900 Manaloto uses variable costing to cost inventories, then only $ 34,000 $ 119,000 70,600 17,000 10,400 16,600 114,600 4,400 $ 3,500 1,100 O The activity variance for supplies of $500 is unfavorable. The revenue and spending variance for wages and salaries of $2,600 is unfavorable. The activity variance for revenue of $3,500 is unfavorable. O The revenue and spending variance for total expense of $4,100 is unfavorable. 500 0 300 1,900 $ 1,600 35,000 $ 112,500 $ 71,700 17,500 10,400 16,900 116,500 6,000
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