per Month Revenue Job $ 280 Component Component per Actual Total for February $28,050 Technician wages Office expenses $ 8,400 $ 8,250 Mobile lab operating expenses $ 4,500 $ 32 $ 7,860 $ 2,500 $ 2 $ 2,570 Advertising expenses $1,570 $ 1,640 Insurance $ 2,890 Miscellaneous expenses $ 940 $ 2 $ 2,890 $ 465 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $32 per job, and the actual mobile lab operating expenses for February were $7,860. The company expected to work 110 jobs in February but actually worked 114 jobs. Required: Prepare a flexible budget performance report for February. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.

per Month Revenue Job $ 280 Component Component per Actual Total for February $28,050 Technician wages Office expenses $ 8,400 $ 8,250 Mobile lab operating expenses $ 4,500 $ 32 $ 7,860 $ 2,500 $ 2 $ 2,570 Advertising expenses $1,570 $ 1,640 Insurance $ 2,890 Miscellaneous expenses $ 940 $ 2 $ 2,890 $ 465 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $32 per job, and the actual mobile lab operating expenses for February were $7,860. The company expected to work 110 jobs in February but actually worked 114 jobs. Required: Prepare a flexible budget performance report for February. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter13: Budgeting And Standard Costs

Section: Chapter Questions

Problem 13.6.2P

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