The development department shows financial results of the following for the month of June: Actual Budget Variance % Variance Research Expenses $(10,000) -25% Development Expenses. $200,000 $25,000 13% $50,000 $40,000 $175,000 Salaries $385,000 $375,000 $(10,000) -3% Travel & Entertainment $5,000 $100 $(4,900) -4900% Office Supplies $500 $1,000 $500 50% Total $615,500 $616,100 $600 0% It is your job to explain material variances to plan. to your Controller. Using your best judgement, in the space below write which variances you believe the Controller would consider material and therefore why they would need to be

The development department shows financial results of the following for the month of June: Actual Budget Variance % Variance Research Expenses $(10,000) -25% Development Expenses. $200,000 $25,000 13% $50,000 $40,000 $175,000 Salaries $385,000 $375,000 $(10,000) -3% Travel & Entertainment $5,000 $100 $(4,900) -4900% Office Supplies $500 $1,000 $500 50% Total $615,500 $616,100 $600 0% It is your job to explain material variances to plan. to your Controller. Using your best judgement, in the space below write which variances you believe the Controller would consider material and therefore why they would need to be

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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am. 118.
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