Jake's Roof Repair has provided the following data concerning its costs:Fixed Cost Cost perper Month Repair-Hour$ 21,500 $ 15.00.$7.30Wages and salariesParts and suppliesEquipment depreciationTruck operating expensesRentRevenueExpenses:Administrative expenses$ 0.50For example, wages and salaries should be $21,500 plus $15.00 per repair-hour. The company expected to work 3,000 repair-hours inMay, but actually worked 2,900 repair-hours. The company expects its sales to be $54.00 per repair-hour.$ 2,760$ 5,740Required:Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)Wages and salariesParts and suppliesEquipment depreciationTruck operating expensesRent$ 4,630$ 3,820Jake's Roof RepairActivity VariancesFor the Month Ended May 31Administrative expensesTotal expenseNet operating income$ 0.40$ 1.70

Variance analysis is defined as the procedure followed by the management to study the deviations…

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 21,500 Cost per Repair-Hour $15.00. $7.30 $0.40 $ 1.70 Administrative expenses $0.50 For example, wages and salaries should be $21,500 plus $15.00 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 $54.00 per repair-hour. Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies $ 2,760 $5,740 $4,630 $3,820 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 $ 21,500 Cost per Repair-Hour $15.00. $7.30 $0.40 $ 1.70 Administrative expenses $0.50 For example, wages and salaries should be $21,500 plus $15.00 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 $54.00 per repair-hour. Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies $ 2,760 $5,740 $4,630 $3,820 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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Jake’s Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost per Repair-Hour Wages and salaries $ 20,500 $ 15.00 Parts and supplies $ 7.40 Equipment depreciation $ 2,750 $ 0.50 Truck operating expenses $ 5,790 $ 1.50 Rent $ 4,640 Administrative expenses $ 3,810 $ 0.50 For example, wages and salaries should be $20,500 plus $15.00 per repair-hour. The company expected to work 2,700 repair-hours in May, but actually worked 2,600 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company’s activity variances for May. (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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ake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost per Repair-Hour $ 21,300 $ 16.00 $ 7.00 $ 0.50 $ 1.50 Wages and salaries Parts and supplies Equipment depreciation $ 2,770 Truck operating expenses $5,780 $ 4,630 Administrative expenses $3,820 $ 0.80 For example, wages and salaries should be $21,300 plus $16.00 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 $46.00 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. Rent
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