Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namelystudent and course. The school uses the following data in its budgeting:RevenueFaculty wagesCourse suppliesAdministrative expensesActual studentsActual coursesRevenueExpenses:Faculty wagesCourse suppliesAdministrative expensesTotal expenseNet operating incomeIn March, the school budgeted for 1,720 students and 69 courses. The school's income statement showing the actual results for themonth appears below:Roberds TechIncome StatementFor the Month Ended March 31StudentsCoursesRevenueExpenses:Fixed elementper monthFaculty wagesCourse suppliesAdministrative expenses$0$0$0$ 25,550Total expenseNet operating incomeVariableelement perstudent$203$0$33Required:Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances forMarch. Label each variance as favorable (F) or unfavorable (U).Actual Results1,62072$316,340Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.1,62072$8205,45053,09041,562300,102$ 16,238Variableelement percourse$0$ 2,910$ 21$33Roberds TechFlexible Budget Performance ReportFor the Month Ended March 31Revenue and Spending Flexible BudgetVariances1,62072Activity VariancesPlanningBudget1,72069

The flexible budget report is prepared to compare the actual and standard budget data. The revenue…

Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Fixed element per month $0 $0 $0 $ 25,550 Actual students Variable element per student $ 203 $0 $ 33 $8 Roberds Tech Income Statement For the Month Ended March 31 In March, the school budgeted for 1,720 students and 69 courses. The school's income statement showing the actual results for the month appears below: Variable element per 1.620 course $0 $ 2,910 $ 21 $ 33

Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Fixed element per month $0 $0 $0 $ 25,550 Actual students Variable element per student $ 203 $0 $ 33 $8 Roberds Tech Income Statement For the Month Ended March 31 In March, the school budgeted for 1,720 students and 69 courses. The school's income statement showing the actual results for the month appears below: Variable element per 1.620 course $0 $ 2,910 $ 21 $ 33

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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