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Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenaes Fixed Cost per Honth $20,700 Cost per Repair-Hour $15.00 $ 7.70 2,790 $5.760 $ 4,660 $3,840 $0.50 $1.60 Rent Administrative expenses $0.70 For example, wages and salaries should be $20,700 plus $15.00o per repair-hour. The company expected to work 2,500 repair-hours in May, but actually worked 2,400 repair-hours. The company expects Its sales to be $50.00 per repair-hour. Required: Compute the company's activity varlances for May. (Indicate the effect of each varlance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (0.e., zero varlance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expensos Wages and salaries Parts and supples Equipment deprediation Truck operating expenses Rent Administrative erpenses Total apense Net operating income

Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenaes Fixed Cost per Honth $20,700 Cost per Repair-Hour $15.00 $ 7.70 2,790 $5.760 $ 4,660 $3,840 $0.50 $1.60 Rent Administrative expenses $0.70 For example, wages and salaries should be $20,700 plus $15.00o per repair-hour. The company expected to work 2,500 repair-hours in May, but actually worked 2,400 repair-hours. The company expects Its sales to be $50.00 per repair-hour. Required: Compute the company's activity varlances for May. (Indicate the effect of each varlance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (0.e., zero varlance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expensos Wages and salaries Parts and supples Equipment deprediation Truck operating expenses Rent Administrative erpenses Total apense Net operating income

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: Fixed Cost per Honth $20,700 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses $ 2,790 $ 5,760 $ 4,660 $ 3,840 Cost per Repair-Hour $15.00 $ 7.70 $ 0.50 $1.60 $0.70 For example, wages and salaries should be $20,700 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours in May, but actually worked 2,400 repair-hours. The company expects Its sales to be $50.00 per repair-hour. Required: Compute the company's activity varlances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (0.e., zero varlance). Input all amounts as positive values.) Jake's Roof Repair Activity Varlances For the Month Ended May 31 Revenue Expensos Wages and nalaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total apense Net operating income
Transcribed Image Text:Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Honth $20,700 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses $ 2,790 $ 5,760 $ 4,660 $ 3,840 Cost per Repair-Hour $15.00 $ 7.70 $ 0.50 $1.60 $0.70 For example, wages and salaries should be $20,700 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours in May, but actually worked 2,400 repair-hours. The company expects Its sales to be $50.00 per repair-hour. Required: Compute the company's activity varlances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (0.e., zero varlance). Input all amounts as positive values.) Jake's Roof Repair Activity Varlances For the Month Ended May 31 Revenue Expensos Wages and nalaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total apense Net operating income
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