Jake's Roof Repair has provided the following data concerning its costs:Fixed CostCost perper Month Repair-Hour$ 20,900$15.00Wages and salariesParts and suppliesEquipment depreciation.Truck operating expensesRentAdministrative expensesFor example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hoursin May, but actually worked 2,800 repair-hours. The company expects its sales to be $47.00 per repair-hour.RevenueExpenses:$ 2,700$ 5,710$ 4,610$ 3,840Required:Compute the company's activity variances for May.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.Jake's Roof RepairActivity VariancesFor the Month Ended May 31Wages and salariesParts and suppliesEquipment depreciationTruck operating expensesRent$ 7.40$ 0.45$ 1.60$ 0.80Administrative expensesTotal expenseNet operating income

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour $ 20,900 $ 15.00 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses $ 2,700 $ 5,710 $ 4,610 $ 3,840 $ 7.40 $ 0.45 $ 1.60 $ 0.80 For example, wages and salaries should be $20,900 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 $47.00 per repair-hour. Required: Compute the company's activity variances for May. Note: 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 has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour $ 20,900 $ 15.00 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses $ 2,700 $ 5,710 $ 4,610 $ 3,840 $ 7.40 $ 0.45 $ 1.60 $ 0.80 For example, wages and salaries should be $20,900 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 $47.00 per repair-hour. Required: Compute the company's activity variances for May. Note: 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.

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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