Schoening Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for January. Revenue Employee salaries and wages Refurbishing materials Other expenses Fixed Element per Month ➡ $ 50,600 $1.000 U $41,200 Variable Element per Actual Total for Container January Refurbished $ 4,100 $1,100 $700 When the company prepared its planning budget at the beginning of January, it assumed that 40 containers would have been refurbished. However, 38 containers were actually refurbished during January. $ 158,600 $92,700 $ 27,000 $ 40,800 The activity variance for "Refurbishing materials" for January would have been closest to: * $1,000 F $1,400 F
Schoening Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for January. Revenue Employee salaries and wages Refurbishing materials Other expenses Fixed Element per Month ➡ $ 50,600 $1.000 U $41,200 Variable Element per Actual Total for Container January Refurbished $ 4,100 $1,100 $700 When the company prepared its planning budget at the beginning of January, it assumed that 40 containers would have been refurbished. However, 38 containers were actually refurbished during January. $ 158,600 $92,700 $ 27,000 $ 40,800 The activity variance for "Refurbishing materials" for January would have been closest to: * $1,000 F $1,400 F
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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