Static budget for operating income. Given information: Average amount of loan is $145,000. Number of loans are 8,200. Revenue generating fee is 0.40%. Commission from investor and student is 2.

Question

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Answer 1

Question

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

2.

To determine

To calculate: Variances of third quarter of 2014.

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

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Answer 2

Question

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

2.

To determine

To calculate: Variances of third quarter of 2014.

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

2.

To determine

To calculate: Variances of third quarter of 2014.

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

2.

To determine

To calculate: Variances of third quarter of 2014.

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Expert Solution & Answer

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Answer 5

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

2.

To determine

To calculate: Variances of third quarter of 2014.

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Answer 6

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

Answer 7

Chapter 7, Problem 7.28E

1.

To determine

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

Answer 8

2.

To determine

To calculate: Variances of third quarter of 2014.

Answer 9

2.

To determine

To calculate: Variances of third quarter of 2014.

Answer 10

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

Answer 11

3.

To determine

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.

Answer 12

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Answer 13

4.

To determine

Factors to be considered in evaluating the effectiveness of the professional labor.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

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Static budget for operating income. Given information: Average amount of loan is $145,000. Number of loans are 8,200. Revenue generating fee is 0.40%. Commission from investor and student is 2.

To prepare: Static budget for operating income. Given information: Average amount of loan is $145,000. Number of loans are 8,200. Revenue generating fee is 0.40%. Commission from investor and student is 2.

To calculate: Variances of third quarter of 2014.

Professional price and efficiency variances. Given information: Standard price is $45. Budgeted working hours are 8 hours per unit. Budgeted sale is 8,200 units. Actual rate is $50. Actual hours worked is 9.5 hours per unit. Actual sale is 10,250 units.

Factors to be considered in evaluating the effectiveness of the professional labor.

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Chapter 7 Solutions

To prepare: Static budget for operating income.

Given information:

Average amount of loan is $145,000.

Number of loans are 8,200.

Revenue generating fee is 0.40%.

Commission from investor and student is 2.

Professional price and efficiency variances.

Given information:

Standard price is $45.

Budgeted working hours are 8 hours per unit.

Budgeted sale is 8,200 units.

Actual rate is $50.

Actual hours worked is 9.5 hours per unit.

Actual sale is 10,250 units.