Customers served (q)Revenue ($3.50q) $ 119,800 $ 800Expenses:Wages and salaries($33,200+ $1.10q)Supplies ($0.50q)Insurance ($10,400)Miscellaneousexpense ($6,400 +$0.309)Total expense34,000Net operating income $68,00014,40010,40017,700110,5009,3002,600Which of the following statement is true?2,60001,1004,100$ 4,900Manaloto uses variable costing to cost inventories, then only$34,000$ 119,00070,60017,00010,40016,600114,6004,400$ 3,5001,100O 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 $4,100 is unfavorable.50003001,900$ 1,60035,000$ 112,500$71,70017,50010,40016,900116,5006,000

The variance is the difference between the actual data and standard output of the production. The…

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

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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