Help SaPaulis 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 February, the kennel budgeted for 4.600 tenant-days, but itactual level of activity was 4,580 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for FebruaryData used in budgeting:RevenueWages and salariesFood and suppliesFacility expensesAdministrative expensesTotal expensesActual results for February:RevenueWages and salariesFood and suppliesFacility expensesAdministrative expensesFixed element per Variable elementmonth$ 0per tenant-day$ 31.10$ 3,600200$ 7.1011.904.100.508,6008,400$ 20,800$ 23.60$ 108,380$ 23,560$ 36,796$ 19,310$ 9,152The overall revenue and spending variance (ie., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for February would beclosest to:Multiple Choice$6,012 F

Step 1:Computation of the net operating income under the flexible budget: Alternatively,Net…

Answered: Help Sa Paulis Kennel uses tenant-days…

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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Guareno Clinic uses client-visits as its measure of activity. During December, the clinic budgeted for 2,500 client-visits, but its actual level of activity was 2,450 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: Fixed element per month Variable element per client-visit Revenue $ 0 $ 45.20 Personnel expenses $ 34,300 $ 13.30 Medical supplies 1,600 5.40 Occupancy expenses 10,000 1.80 Administrative expenses 3,800 0.20 Total expenses $ 49,700 $ 20.70 Actual results for December: Revenue $ 108,650 Personnel expenses $ 65,755 Medical supplies $ 14,380 Occupancy expenses $ 14,000 Administrative expenses $ 4,210 The spending variance for medical supplies in December would be closest to:
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Budget Performance Report for a Cost Center Funderburk Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows: Customer service salaries $628,870 Insurance and property taxes 131,860 Distribution salaries 1,003,190 Marketing salaries 1,182,630 Engineer salaries 962,380 Warehouse wages 674,030 Equipment depreciation 211,360 Total $4,794,320 During January, the costs incurred in the Consumer Products Division were as follows: Customer service salaries $692,700 Insurance and property taxes 126,780 Distribution salaries 990,380 Marketing salaries 1,248,010 Engineer salaries 943,010 Warehouse wages 647,030 Equipment depreciation 211,150 Total $4,859,060 Required: 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. If an…
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The Franklin Management Association held its annual public relations luncheon in April Year 2. Based on the previous year’s results, the organization allocated $24,818 of its operating budget to cover the cost of the luncheon. To ensure that costs would be appropriately controlled, Molly Hubbard, the treasurer, prepared the following budget for the Year 2 luncheon. The budget for the luncheon was based on the following expectations: The meal cost per person was expected to be $12.50. The cost driver for meals was attendance, which was expected to be 1,470 individuals. Postage was based on $0.58 per invitation and 3,350 invitations were expected to be mailed. The cost driver for postage was number of invitations mailed. The facility charge is $1,700 for a room that will accommodate up to 1,600 people; the charge for one to hold more than 1,600 people is $2,200. A fixed amount was designated for printing, decorations, the speaker’s gift, and publicity. FRANKLIN MANAGEMENT…
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Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Actual students Actual courses Revenue Expenses: Faculty wages Course supplies Administrative expenses Total expense Net operating income In March, the school budgeted for 1,720 students and 69 courses. The school's income statement showing the actual results for the month appears below: Roberds Tech Income Statement For the Month Ended March 31 Students Courses Revenue Expenses: Fixed element per month Faculty wages Course supplies Administrative expenses $0 $0 $0 $ 25,550 Total expense Net operating income Variable element per student $203 $0 $33 Required: Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as…
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2-55:56 Dinham 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 March, the kennel budgeted for 3,900 tenant-days, but its actual level of activity was 3,920 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for March: Data used in budgeting: Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses Actual results for March: Revenue Wages and salaries. Food and supplies Facility expenses Administrative expenses Multiple Choice $685 F Fixed element per month $399 F $0 $ 2,800 1,800 8,300 6,800 $ 19,700 The spending variance for food and supplies in March would be closest to: $ 128,321 $ 28,580 $58,255 $ 20,980 $7,098 Variable element per tenant-day $34.80 $ 7.80 14.30 3.30 0.30 $25.70
Guareno Clinic uses client-visits as its measure of activity. During December, the clinic budgeted for 4,100 client-visits, but its actual level of activity was 4,030 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: Fixed element per month Variable element per client-visit Revenue - $ 44.70 Personnel expenses $ 35,900 $ 13.30 Medical supplies 1,600 5.30 Occupancy expenses 11,600 2.20 Administrative expenses 5,400 0.20 Total expenses $ 54,500 $ 21.00 Actual results for December: Revenue $ 178,885 Personnel expenses $ 88,515 Medical supplies $ 22,515 Occupancy expenses $ 19,960 Administrative expenses $ 6,290 The activity variance for administrative expenses in December would be closest to:
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A manager is preparing a revenue budget for next month. The following is the manager’s current month actual operating results. ACTUAL OPERATING RESULTS CURRENT MONTH Revenue Source Number of Guests Average Sale per Guest Sales Restaurant 3492 $20.50 $71,586 Lounge 515 $12.00 $ 6,180 Banquet room 388 $28.50 $11,058 Total 4395 $20.21 $88,824 Create the revenue forecast for next month based on the following assumptions. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. Lounge guests to be served are estimated at 525 with a 10 percent increase in average sale per guest. The banquet room will serve 425 customers and generate $12,750 in sales. NEXT MONTH BUDGET Revenue Source Number of Guests Average Sale per Guest Sales Restaurant 3,600.00 ? ? Lounge ? ? ? Banquet room ? ? ? Total ? ? ? What will be the manager’s revenue forecast for next month?…

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