FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual
operating results for the month of November:
Bickel Corporation -
Comparison of Actual Results to Planning Budget
For the Month Ended November 30
Customers served
Revenue ($3.504)
Expenses:
Mages and salaries ($24,200 $1.324)
Supplies ($0.729)
Insurance ($6,100)
Miscellaneous expense (55,100 50.410)
Total expense
Net operating income
Actual
Results
43,000
$150,300
80,960
28,840
6,100
20,920
136,820
$ 11,400
Planning Budget
42,000
$147,000
79,640
30,240
6,100
22,320
138,300
$1,700
Variances
$3,300 F
1,320 U
1,400 F
0 None
1,400 F
1,480 F
$4,780 F
Required:
Prepare the company's Comprehensive Performance Report for November. Label each variance as favorable (F) or unfavorable (U).
(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.)
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Transcribed Image Text:Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November: Bickel Corporation - Comparison of Actual Results to Planning Budget For the Month Ended November 30 Customers served Revenue ($3.504) Expenses: Mages and salaries ($24,200 $1.324) Supplies ($0.729) Insurance ($6,100) Miscellaneous expense (55,100 50.410) Total expense Net operating income Actual Results 43,000 $150,300 80,960 28,840 6,100 20,920 136,820 $ 11,400 Planning Budget 42,000 $147,000 79,640 30,240 6,100 22,320 138,300 $1,700 Variances $3,300 F 1,320 U 1,400 F 0 None 1,400 F 1,480 F $4,780 F Required: Prepare the company's Comprehensive Performance Report for November. Label each variance as favorable (F) or unfavorable (U). (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.)
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