Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Fixed Variable element per element per month $ 0 $ 0 $ 0 $ 26,400 student $ 288 $ 0 Variable element per course $ 0 $ 50 $ 25 $ 3,080 $ 38 $ 50 In March, the school budgeted for 1,890 students and 86 courses. The school's income statement showing the actual results for the month appears below: Roberds Tech Income Statement For the Month Ended March 31 Actual students Actual courses Revenue Expenses: Faculty wages 1,790 89 $ 401,340 213,950 61,590 Course supplies Administrative expenses Total expense Net operating income Required: 79,562 355,102 $ 46,238 Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as favorable (F) or unfavorable (U). Note: 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.

Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Fixed Variable element per element per month $ 0 $ 0 $ 0 $ 26,400 student $ 288 $ 0 Variable element per course $ 0 $ 50 $ 25 $ 3,080 $ 38 $ 50 In March, the school budgeted for 1,890 students and 86 courses. The school's income statement showing the actual results for the month appears below: Roberds Tech Income Statement For the Month Ended March 31 Actual students Actual courses Revenue Expenses: Faculty wages 1,790 89 $ 401,340 213,950 61,590 Course supplies Administrative expenses Total expense Net operating income Required: 79,562 355,102 $ 46,238 Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as favorable (F) or unfavorable (U). Note: 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.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9Q: A company has prepared the operating budget and the cash budget. It is now preparing the budgeted...

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Roberds Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Revenue Faculty wages Course supplies Administrative expenses Actual students Actual courses Revenue Expenses: Faculty wages Course supplies Administrative expenses Total expense Net operating income In March, the school budgeted for 1,720 students and 69 courses. The school's income statement showing the actual results for the month appears below: Roberds Tech Income Statement For the Month Ended March 31 Students Courses Revenue Expenses: Fixed element per month Faculty wages Course supplies Administrative expenses $0 $0 $0 $ 25,550 Total expense Net operating income Variable element per student $203 $0 $33 Required: Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as…
ShawnTech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Fixed element per month variable element per student variable element per course revenue $0 $354 $0 faculty wages $0 $0 $2,300 course supplies $0 $48 $40 administrative expenses $41,700 $13 $21 In October, the school budgeted for 1,400 students and 127 courses. The actual activity for the month was 1,500 students and 129 courses. Prepare a report showing the school's activity variances for October. Label each variance as favorable (F) or unfavorable (U).
1.Prepare a tuition revenue budget for the upcoming academic year. 2. Determine the number of faculty members needed to cover classes.
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