Homework Help is Here – Start Your Trial Now!
Business
Accounting
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Variable Actual Total for Component per Month Component per Job $ 279 February $ 30,730 $ 8,150 $ 8,580 $ 3,010 $ 1,640 $ 2,890 $ 365 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses $ 8,300 $ 4,900 $ 2,800 $ 1,570 $ 2,890 $ 940 $ 32 $ 3 Insurance Miscellaneous expenses $ 1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $8,580. The company expected to work 120 jobs in February, but actually worked 122 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Planning Budget Results Budget Jobs 122 Revenue $ 30,730 Expenses: Technician wages 8,150 Mobile lab operating expenses 8,580 Office expenses 3,010 Advertising expenses 1,640 Insurance 2,890 Miscellaneous expenses 365 Total expense 24,635

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Variable Actual Total for Component per Month Component per Job $ 279 February $ 30,730 $ 8,150 $ 8,580 $ 3,010 $ 1,640 $ 2,890 $ 365 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses $ 8,300 $ 4,900 $ 2,800 $ 1,570 $ 2,890 $ 940 $ 32 $ 3 Insurance Miscellaneous expenses $ 1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $8,580. The company expected to work 120 jobs in February, but actually worked 122 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Planning Budget Results Budget Jobs 122 Revenue $ 30,730 Expenses: Technician wages 8,150 Mobile lab operating expenses 8,580 Office expenses 3,010 Advertising expenses 1,640 Insurance 2,890 Miscellaneous expenses 365 Total expense 24,635

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 17P: Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the...
See similar textbooks
icon
Related questions
Question

I need with this one!!

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Variable Actual Component per Job $ 279 Component Total for per Month February $ 30,730 $ 8,150 $ 8,580 $ 3,010 $ 1,640 $ 2,890 $ 365 Revenue Technician wages Mobile lab operating expenses Office expenses $ 8,300 $ $ 4,900 $ 2,800 $ 1,570 $ 2,890 $ 940 $ 32 $ 3 Advertising expenses Insurance Miscellaneous expenses $ 1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $8,580. The company expected to work 120 jobs in February, but actually worked 122 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Planning Budget Flexible Results Budget Jobs 122 Revenue $ 30,730 Expenses: Technician wages 8,150 Mobile lab operating expenses 8,580 Office expenses 3,010 Advertising expenses 1,640 Insurance 2,890 Miscellaneous expenses 365 Total expense 24,635 < Prev 7 of 8 Next >
Transcribed Image Text:AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Variable Actual Component per Job $ 279 Component Total for per Month February $ 30,730 $ 8,150 $ 8,580 $ 3,010 $ 1,640 $ 2,890 $ 365 Revenue Technician wages Mobile lab operating expenses Office expenses $ 8,300 $ $ 4,900 $ 2,800 $ 1,570 $ 2,890 $ 940 $ 32 $ 3 Advertising expenses Insurance Miscellaneous expenses $ 1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $8,580. The company expected to work 120 jobs in February, but actually worked 122 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Planning Budget Flexible Results Budget Jobs 122 Revenue $ 30,730 Expenses: Technician wages 8,150 Mobile lab operating expenses 8,580 Office expenses 3,010 Advertising expenses 1,640 Insurance 2,890 Miscellaneous expenses 365 Total expense 24,635 < Prev 7 of 8 Next >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Liquidity Risk Exposure
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS