orporation runs popular "Make Money in Real Estate and Retire Early!" workshops. The corporation bases its budget on two measures of activity, number of participants and number of workshops. In 2022, the orporation budgeted for 300 participants and 15 workshops. The management used the following data in its budgeting Fixed cost per year VC per Participant VC per Workshop Tuition per Participant $100 Revenue Instructor wages Workshop supplies Administrative expenses $4,000 $1,000 $2,000 Q: What is the (Just the amount) A: S Number of Participants 280 Number of Workshops 18 Revenue Instructor wages Workshop supplies Administrative expenses $9,840 actual results for the year appear below. $25,760 $7,780 $0 $10 $6,300 $20 $20 $50 $30 spending variance (.e. use flexible budget to calculate variance for all expenses together) for 2022?

orporation runs popular "Make Money in Real Estate and Retire Early!" workshops. The corporation bases its budget on two measures of activity, number of participants and number of workshops. In 2022, the orporation budgeted for 300 participants and 15 workshops. The management used the following data in its budgeting Fixed cost per year VC per Participant VC per Workshop Tuition per Participant $100 Revenue Instructor wages Workshop supplies Administrative expenses $4,000 $1,000 $2,000 Q: What is the (Just the amount) A: S Number of Participants 280 Number of Workshops 18 Revenue Instructor wages Workshop supplies Administrative expenses $9,840 actual results for the year appear below. $25,760 $7,780 $0 $10 $6,300 $20 $20 $50 $30 spending variance (.e. use flexible budget to calculate variance for all expenses together) for 2022?

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Description: Please do not give solution in image format thanku Corporation runs popular "Make Money in Real Estate and Retire Early!" workshops. The corporation bases its budget ontwo measures of activity: number of participants and number of workshops. In 2022,

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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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Please do not give solution in image format thanku

Corporation runs popular "Make Money in Real Estate and Retire Early!" workshops. The corporation bases its budget on
two measures of activity: number of participants and number of workshops. In 2022, the
corporation budgeted for 300
participants and 15 workshops. The management used the following data in its budgeting:
Fixed cost per year VC per Participant VC per Workshop Tuition per Participant
$100
Revenue
Instructor wages
Workshop supplies
Administrative expenses
$4,000
$1,000
$2,000
Number of Participants 280
18
Number of Workshops
Revenue
Q: What is the
(Just the amount.)
A: $
s actual results for the year appear below.
$25,760
Instructor wages
Workshop supplies
Administrative expenses $9,840
$7,780
$0
$10
$6,300
$20
$20
$50
$30
s spending variance (i.e. use flexible budget to calculate variance for all expenses together) for 2022?

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