Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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please solve it with all work and provide complete and correct solution with formula , explanation answer in text show calculation clearly with steps

 

SpeedCheck performs safety inspections on motorbikes in Melbourne. They are
the sole provider of this service and each motorbike requires an annual inspection.
SpeedCheck have provided the following information:
Price per inspection
Time require per inspection
Labour cost per hour
Fixed cost
Number of motorbikes in Melb
Market share
+/- Market share vareiance
Flexible budget profit
+/- Price variance
+/- Labour efficiency variance
Complete the following reconciliation:
Enter your answers as numbers without commas or spaces. For example: Enter
3500.50, not 3,500.50. For variances, use a positive number for favourable, and a
negative number (prefix with -) for unfavourable.
Budgeted profit
+/- Number of motorbikes variance
+/- Labour cost variance
Budget
$250
1.0 hours
$40
$7,500
+/- Fixed cost variance
= Actual profit
25,000
8.0%
$412500
-12500
96500
$496500
10000
5000
-3000
-250
Actual
$260
0.9 hours.
$50
$7,750
$508250
24,000
10.0%
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Transcribed Image Text:SpeedCheck performs safety inspections on motorbikes in Melbourne. They are the sole provider of this service and each motorbike requires an annual inspection. SpeedCheck have provided the following information: Price per inspection Time require per inspection Labour cost per hour Fixed cost Number of motorbikes in Melb Market share +/- Market share vareiance Flexible budget profit +/- Price variance +/- Labour efficiency variance Complete the following reconciliation: Enter your answers as numbers without commas or spaces. For example: Enter 3500.50, not 3,500.50. For variances, use a positive number for favourable, and a negative number (prefix with -) for unfavourable. Budgeted profit +/- Number of motorbikes variance +/- Labour cost variance Budget $250 1.0 hours $40 $7,500 +/- Fixed cost variance = Actual profit 25,000 8.0% $412500 -12500 96500 $496500 10000 5000 -3000 -250 Actual $260 0.9 hours. $50 $7,750 $508250 24,000 10.0%
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