! Required information The Foundational 15 (Algo) [LO9-1, LO9-2, LO9-3] [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Foundational 9-15 (Algo) Fixed Element per Month Employee salaries and wages Travel expenses Other expenses $ 51,000 $ 30,000 When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35 customers. Variable Element per Customer Served $5,200 $ 1,200 $ 650 Activity Variance Actual Total for May $ 170,000 $ 92,700 $ 20,600 $ 29,000 15. What activity variances would Adger report with respect to each of its expenses 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.)

! Required information The Foundational 15 (Algo) [LO9-1, LO9-2, LO9-3] [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Foundational 9-15 (Algo) Fixed Element per Month Employee salaries and wages Travel expenses Other expenses $ 51,000 $ 30,000 When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35 customers. Variable Element per Customer Served $5,200 $ 1,200 $ 650 Activity Variance Actual Total for May $ 170,000 $ 92,700 $ 20,600 $ 29,000 15. What activity variances would Adger report with respect to each of its expenses 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.)

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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Required information The Foundational 15 (Algo) (LO9-1, LO9-2, LO9-3] [The following information applies to the questions displayed below] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month $ 53,000 $32,000 Variable Element per Customer Served $5,400 $ 1,400 $750 Actual Total for May $ 203,000 $108,500 $ 27,700 $ 30,000 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during May the company actually served 40 customers. Foundational 9-9 (Algo) 9. What is Adger's other expenses spending variance for May? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero…
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