Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs:
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- Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs. Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Actual cars washed Revenue Expenses: Cleaning supplies Electricity Haintenance Hages and salaries Depreciation For example, electricity costs are $1,300 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6,70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Honth Ended August 31 Rent Fixed Cost per Month Administrative expenses Total expense Net operating income $1,300 $4,700 $8,100 $1,900 $1,700 Cost per Car Washed 0,400 $57,710 5,480 2,017 1,070 7,550 8,100 2,100 1,932 20,249 $ 29,4611 $0.60 $0.09 $0.10 $0.30 $0.04 Required: Calculate the company's revenue and spending variances for…ces W Actual pounds (q) Revenue ($4.10g) For the Month Ended August 31 Quilcene Oysteria Flexible Budget Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,000) Wages and salaries ($2,400 + $0.30q) Shipping ($0.60q) Utilities ($1,270) Other ($470 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries. Shipping Utilities Other Total expense Net operating income 7,200 $ 27,100 2,330 2,860 4,970 4,050 1,080 1,162 16,452 $ 10,648Required a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Sales Variable expenses: Fixed expenses: $ ROONEY COMPANY Internal Income Statement Budget 0 0 0 $ Actual 0 0 0 Variance Effect
- Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 7,400 Revenue ($4.10q) Expenses: Packing supplies ($0.25q) Oyster bed maintenance ($3,400) Wages and salaries ($2, 100 + $0.45q) Shipping ($0.65q) Utilities ($1, 290) Other ($450 + $0.01g) Total expense $ 30, 340 1, 850 3,400 5,430 4,810 1, 290 524 17,304 $ 13,036 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,400 Revenue $27,500 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities 2,020 3, 260 5,840 4,540 1, 100 1,144 17,904 Other Total expense Net operating income $9,596Q. CalculateSales-volume variance for operating income for Ellis for April 2017Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The company's flexible budget for August appears below: For Actual pounds (q) Revenue ($4.05g) Expenses: Packing supplies ($0.30g) Oyster bed maintenance ($3,200) Wages and salaries ($2,100 + $0.40g) Shipping ($0.65g) Utilities ($1,240) Quilcene Oysteria Flexible Budget the Month Ended August 31 Other ($440 + $0.01g). Total expense Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Shipping Utilities Other Quilcene Oysteria Income Statement For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries 7,700 $ 31,185 2,310 3,200 5,180 5,005 1,240 517 17,452 $ 13,733 7,700 $ 26,600 2,480 3,060 5,590 4,735 1,050 1,137
- The May 2024 revenue and cost information for Boise Outfitters, Inc. follows: 1(Click the icon to view the revenue and cost information.) Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Boise Outfitters, Inc. Standard Cost Income Statement For the Month Ended May 31, 2024 (1) Sales Revenue $540,000 (2) Cost of Goods Sold at standard $344,000 (3) Manufacturing Cost Variances: (4) Direct Materials Cost Variance (5) Direct Materials Efficiency Variance (6) Direct Labor Cost Variance 4,800 (7) Direct Labor Efficiency Variance (8) Variable…Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per Car Washed per Month Cleaning supplies Electricity Maintenance $0.80 $0.15 $0.20 $0.30 $1,200 Wages and salaries Depreciation Rent Administrative expenses $5,000 $6,000 $8,000 $4,000 $0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The company actually washed 8,800 cars in August. Required: Calculate the company's activity variances for August. (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.)You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in March Cost Formula $20,600 + $0.10 per machine-hour $40,000 + $1.60 per machine-hour $0.30 per machine-hour $24,200 $ 78,100 $8,400 $ 149,600 $ 71,500 Utilities Maintenance Supplies Indirect labor $130,000 + $0.70 per machine-hour Depreciation $70,000 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March.…
- Compute the following: Total gross profit variance Sales mix variance Final sales volume variance Format: 11,111 F or 11,111 UShow transcribed image text 15.What activity variances would Adger report with respect to each of its expenses? (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.) [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: When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35 customers.1. Summarize the variances that you computes in (1) above by showing the net overall favorable or unfavorable variances for the month. What impact did this figure have on the company's income statement? Show computations 2.Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn possible causes of these variances.