Faulks Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided thefollowing fixed and variable cost estimates that it uses for budgeting purposes.Fixed ElementVariable Element perper MonthContainer RefurbishedRevenue$5,400Employee salaries and wages$46,300$1,200Refurbishing materials$ 700other expenses$32,400When the company prepared its planning budget at the beginning of August, it assumed that 23 containers would have been refurbished. However, 26 containers wereactually refurbished during August.The amount shown for total expenses in the planning budget for August would have been closest to:Multiple Choice$128,100$122,400$11,904$126,500

Budget is the estimated figures calculated by the organization according to the past performance or…

Faulks Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element Variable Element per per Month Container Refurbished Revenue Employee salaries and wages Refurbishing materials other expenses $5,400 $1,200 $ 700 $46,300 $32,400 When the company prepared its planning budget at the beginning of August, it assumed that 23 containers would have been refurbished. However, 26 containers were actually refurbished during August. The amount shown for total expenses in the planning budget for August would have been closest to: Multiple Choice $128.100 $122,400 $11,904 $126,500

Faulks Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element Variable Element per per Month Container Refurbished Revenue Employee salaries and wages Refurbishing materials other expenses $5,400 $1,200 $ 700 $46,300 $32,400 When the company prepared its planning budget at the beginning of August, it assumed that 23 containers would have been refurbished. However, 26 containers were actually refurbished during August. The amount shown for total expenses in the planning budget for August would have been closest to: Multiple Choice $128.100 $122,400 $11,904 $126,500

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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