Schriever Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgetingpurposes.RevenueEmployee salaries and wagesServicing materialsOther expensesMultiple ChoiceThe planning budget for May was based on 36 wells serviced, but a total of 31 wells were actually serviced in May.The activity variance for total expenses for May would have been closest to:ооо$10,500 F$8,500 F$10,500 UFixed element per Variable Element permonthWell Serviced$ 4,500$ 1,100$ 600$8,500 U$ 57,200$ 31,000

The main purpose of Standard costing is to compare your actual performance with these standards and…

chriever Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for bu urposes. Fixed element per Variable Element per month Well Serviced $ 57,200 $ 4,500 $1,100 $ 600 $ 31,000 he planning budget for May was based on 36 wells serviced, but a total of 31 wells were actually serviced in May. he activity variance for total expenses for May would have been closest to: Revenue Employee salaries and wages Servicing materials Other expenses Multiple Choice O O O O $10,500 F $8,500 F $10,500 U $8,500 U

chriever Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for bu urposes. Fixed element per Variable Element per month Well Serviced $ 57,200 $ 4,500 $1,100 $ 600 $ 31,000 he planning budget for May was based on 36 wells serviced, but a total of 31 wells were actually serviced in May. he activity variance for total expenses for May would have been closest to: Revenue Employee salaries and wages Servicing materials Other expenses Multiple Choice O O O O $10,500 F $8,500 F $10,500 U $8,500 U

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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The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Fixed Elementper Month Variable Element per Customer Served Actual Totalfor May Revenue $ 5,400 $ 226,000 Employee salaries and wages $ 61,000 $ 2,200 $ 158,700 Travel expenses $ 530 $ 20,700 Other expenses $ 40,000 $ 38,000 When preparing its planning budget the company estimated that it would serve 40 customers per month; however, during May the company actually served 45 customers. 13. What amount of other expenses would be included in Adger’s planning budget for May? - What activity variance would Adger report in May with respect to its revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U"…
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Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates for budgeting purposes and the actual results for May as shown below: Fixed Element per Month Variable Element per Customer Served Actual Total for May Revenue $ 5,600 $ 182,000 Employee salaries and wages $ 55,000 $ 1,600 $ 110,300 Travel expenses $ 850 $ 27,200 Other expenses $ 34,000 $ 32,600 When preparing its planning budget, the company estimated it would serve 30 customers per month; however, during May the company actually served 35 customers. REQUIRED QUESTIONS:) 3. What amount of travel expenses would be included in Adger’s flexible budget for May? 1. What amount of revenue would be included in Adger’s flexible budget for May?