None Exercise 9-16 (Algo) Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4]อAirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actualresults for the month of February:FixedVariableComponent Component per Actual Totalper MonthRevenueJob$ 279for February$ 30,730Technician wages$ 8,500$ 8,350Mobile lab operating expenses$ 4,600$ 34$ 8,520Office expenses$ 2,400$ 3$ 2,610Advertising expenses$ 1,580$ 1,650Insurance$ 2,850Miscellaneous expenses$ 980$ 2$ 2,850$ 525The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4.600 plus$34 per job, and the actual mobile lab operating expenses for February were $8,520. The company expected to work 120 jobs inFebruary but actually worked 126 jobs.Required:Prepare a flexible budget performance report for February.Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zerovarlance). Input all amounts as positive values.AirQual Test CorporationFlexible Budget Performance ReportJobsFor the Month Ended February 28ActualResultsFlexiblePlanningBudgetBudget126$ 30,730RevenueExpenses:Technician wages8.350Mobile lab operating expenses8,520Office expenses2,610Advertising expenses1.650InsuranceMiscellaneous expensesTotal expensesNet operating income2,85052524,505$ 6,225

Name: None Exercise 9-16 (Algo) Flexible Budget Performance Report [LO9-1, L
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Description: None Exercise 9-16 (Algo) Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4]อAirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actualresults for the month of Febr

A flexible performance report is a management tool that compares actual outcomes to a plan or budget…

Answered: AirQual Test Corporation provides…

Business

Accounting

AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February:

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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