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Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Cost per Repair- Month Hour Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent $ 20,600 $ 2,710 $5,720 $ 4,630 $15.00 $7.10 $ 0.40 $ 1.60

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Cost per Repair- Month Hour Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent $ 20,600 $ 2,710 $5,720 $ 4,630 $15.00 $7.10 $ 0.40 $ 1.60

FINANCIAL ACCOUNTING
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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Jake's Roof Repair has provided the following data concerning its costs: Cost per Repair- Hour Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Fixed Cost per Month $ 20,600 $ 2,710 $5,720 $ 4,630 $ 3,890 $ 15.00 $ 7.10 $ 0.40 $ 1.60 $ 0.80 For example, wages and salaries should be $20,600 plus $15.00 per repair-hour. The company expected to work 2,600 repair-hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $51.00 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.
Transcribed Image Text:Jake's Roof Repair has provided the following data concerning its costs: Cost per Repair- Hour Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Fixed Cost per Month $ 20,600 $ 2,710 $5,720 $ 4,630 $ 3,890 $ 15.00 $ 7.10 $ 0.40 $ 1.60 $ 0.80 For example, wages and salaries should be $20,600 plus $15.00 per repair-hour. The company expected to work 2,600 repair-hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $51.00 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.
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