Exercise 9-7 (Algo) Flexible Budgets and Activity Variances [LO9-1, L09-2] Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour Wages and salaries Parts and supplies Equipment depreciation $ 21,400 $ 15.00 $ 7.40 $ 2,750 $ 0.35 Truck operating expenses $ 5,740 $ 1.60 $ 4,630 $ 3,810 $ 0.50 Rent Administrative expenses For example, wages and salaries should be $21,400 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company's activity variances for May. (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.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue บ Expenses: Wages and salaries Parts and supplies IF Equipment depreciation F Truck operating expenses F Rent None Administrative expenses Total expense F Net operating income U

Exercise 9-7 (Algo) Flexible Budgets and Activity Variances [LO9-1, L09-2] Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour Wages and salaries Parts and supplies Equipment depreciation $ 21,400 $ 15.00 $ 7.40 $ 2,750 $ 0.35 Truck operating expenses $ 5,740 $ 1.60 $ 4,630 $ 3,810 $ 0.50 Rent Administrative expenses For example, wages and salaries should be $21,400 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company's activity variances for May. (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.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue บ Expenses: Wages and salaries Parts and supplies IF Equipment depreciation F Truck operating expenses F Rent None Administrative expenses Total expense F Net operating income U

Name: Exercise 9-7 (Algo) Flexible Budgets and Activity Variances [LO9-1, L
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Description: Exercise 9-7 (Algo) Flexible Budgets and Activity Variances [LO9-1, L09-2]Jake's Roof Repair has provided the following data concerning its costs:Fixed Cost Cost perper Month Repair-HourWages and salariesParts and suppliesEquipment depreciation$ 21,

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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