Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 21,200 Wages and salaries. Parts and supplies. Equipment depreciation Truck operating expenses Rent Administrative expenses. $ 0.35 $ 1.60 $ 0.70 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,600 repair- hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $52.00 per repair-hour. Revenue Expenses: Required: Compute the company's activity variances for May. (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.) $ 2,710 $ 5,790 $ 4,670 $ 3,860 Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Cost per Repair-Hour $15.00 $7.10 Total expense Net operating income
Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 21,200 Wages and salaries. Parts and supplies. Equipment depreciation Truck operating expenses Rent Administrative expenses. $ 0.35 $ 1.60 $ 0.70 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,600 repair- hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $52.00 per repair-hour. Revenue Expenses: Required: Compute the company's activity variances for May. (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.) $ 2,710 $ 5,790 $ 4,670 $ 3,860 Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Cost per Repair-Hour $15.00 $7.10 Total expense Net operating income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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