Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,700 Cost per Repair-Hour $ 16.00 $7.60 $0.35 $ 1.80 Wages and salaries Parts and supplies. Equipment depreciation Truck operating expenses Rent Administrative expenses $ 0.40 For example, wages and salaries should be $20,700 plus $16.00 per repair-hour. The company expected to work 3,000 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $46.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Revenue Expenses: $ 2,730 $ 5,770 $ 4,680 $ 3,890 Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,700 Cost per Repair-Hour $ 16.00 $7.60 $0.35 $ 1.80 Wages and salaries Parts and supplies. Equipment depreciation Truck operating expenses Rent Administrative expenses $ 0.40 For example, wages and salaries should be $20,700 plus $16.00 per repair-hour. The company expected to work 3,000 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $46.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Revenue Expenses: $ 2,730 $ 5,770 $ 4,680 $ 3,890 Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

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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