Canniff Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $57,210 per month plus $2,644per flight plus $5 per passenger. The company expected its activity in February to be 72 flights and 280 passengers, but the actual activity was 71 flights and 281 passengers. The actual cost for planeoperating costs in February was $245,290. The plane operating costs in the planning budget for February would be closest to:Multiple Cholce$248,978$247.934$246,339$245.290< Prev22 of 36Next >1:53 PMnere to searchW74°F Mostly sunny10/20/2021DELL

Given, Cost formula for the plane operating cost= $57210 + $ 2644* number of flight + $5* number of…

Answered: Canniff Air uses two measures of…

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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Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $39,590 per month plus $2,649 per flight plus $4 per passenger. The company expected its activity in August to be 82 flights and 294 passengers, but the actual activity was 85 flights and 297 passengers. The actual cost for plane operating costs in August was $255,690. The spending variance for plane operating costs in August would be closest to:
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $39,590 per month plus $2,649 per flight plus $4 per passenger. The company expected its activity in August to be 82 flights and 294 passengers, but the actual activity was 85 flights and 297 passengers. The actual cost for plane operating costs in August was $255,690. The activity variance for plane operating costs in August would be closest to: Multiple Choice $7,959 U $2,294 F $7,959 F $2,294 U
Teel Printing uses two measures of activity, press runs and book set-ups, in the cost formulas in its budgets and performance reports. The cost formula for wages and salaries is $6,850 per month plus $404 per press run plus $954 per book set-up. The company expected its activity in July to be 208 press runs and 115 book set-ups, but the actual activity was 205 press runs and 114 book set-ups. The actual cost for wages and salaries in July
Teel Printing uses two measures of activity, press runs and book set-ups, in the cost formulas in its budgets and performance reports. The cost formula for wages and salaries is $8,850 per month plus $400 per press run plus $950 per book set-up. The company expected its activity in July to be 204 press runs and 111 book set-ups, but the actual activity was 201 press runs and 110 book set-ups. The actual cost for wages and salaries in July was $193,780. The wages and salaries in the planning budget for July would be closest to: Multiple Choice $193,750 $195,900 $193,780 $196,672
Dermody Snow Removal's cost formula for its vehicle operating cost is $2,900 per month plus $320 per snow-day. For the month of December, the company planned for activity of 15 snow-days, but the actual level of activity was 13 snow- days. The actual vehicle operating cost for the month was $7,980. The spending variance for vehicle operating cost in December would be closest to:
Dermody Snow Removal's cost formula for its vehicle operating cost is $3,060 per month plus $336 per snow-day. For the month of December, the company planned for activity of 18 snow-days, but the actual level of activity was 20 snow-days. The actual vehicle operating cost for the month was $9,385. The spending variance for vehicle operating cost in December would be closest to:
The cost formula for the maintenance department of Rambo Limited is $19,200 per month plus $7.50 per machine hour used by the production department. Required: a. Calculate the maintenance cost that would be budgeted for a month in which 6,600 machine hours are planned to be used. b. Prepare an appropriate performance report for the maintenance department assuming that 7,100 machine hours would be used in the month of May and that the total actual maintenance cost incurred in May was $68,950. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the maintenance cost that would be budgeted for a month in which 6,600 machine hours are planned to be used. Maintenance cost
Western Trucking operates a fleet of delivery trucks. The fixed expenses to operate the fleet are $66,907 in March and rose to $91,658 in April. It costs Western Trucking $0.49 per mile in variable costs. In March, the delivery trucks were driven a total of 84,497 miles, and in April, they were driven a total of 92,097 miles. Using this information, answer the following: What were the total costs per mile to operate the fleet in April? Round to the nearest penny, two decimals.
The cost formula for the maintenance department of the Eifel Co. is $6,500 per month plus $3.50 per machine hour used by the production department. a. Calculate the maintenance cost that would be budgeted for the month of May in which 5,700 machine hours are planned to be used. b. Prepare an approproate performance report for the maintenance department assuming that 5,860 machine hours were actually used in the month of May, and the total maintenance cost inccured was $28,010.
The cost formula for the maintenance department of Rainbow Ltd. is $19,400 per month plus $7.70 per machine hour used by the production department.Required:a. Calculate the maintenance cost that would be budgeted for a month in which 6,700 machine hours are planned to be used. b. Prepare an appropriate performance report for the maintenance department assuming that 7,060 machine hours were actually used in the month of May and that the total maintenance cost incurred was $68,940. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Kirnon Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $300 per month plus $114 per job plus $16 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in October to be 27 jobs and 224 meals, but the actual activity was 29 jobs and 227 meals. The actual cost for catering supplies in October was $7,500. The activity variance for catering supplies in October would be closest to: Multiple Choice A. $276 F B. $276 U C. $538 U D. $538 F
Lesinski Snow Removal's cost formula for its vehicle operating cost is $1,770 per month plus $483 per snow-day. For the month of February, the company planned for activity of 19 snow-days, but the actual level of activity was 24 snow-days. The actual vehicle operating cost for the month was $13,070. The spending variance for vehicle operating cost in February would be closest to: Select one: a. $2,123 U b. $292 F c. $2,123 F d. $292 U

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