Given below the 2PM’s Hairstyling information for the month ended June 30: a) Revenue and cost formula Budgeted client-visits q Revenue RM180q Wages and salaries RM65,000 + RM37q Hairstyling supplies RM1.50q Client gratuities RM4.10q Electricity RM1500 + RM0.10q Rent RM28,500 Liability insurance RM2,800 Employee health insurance RM21,300 Miscellaneous RM1,200 + RM0.20q b) The budgeted client-visits were 1,000.
Given below the 2PM’s Hairstyling information for the month ended June 30:
a) Revenue and cost formula
Budgeted client-visits q
Revenue RM180q
Wages and salaries RM65,000 + RM37q
Hairstyling supplies RM1.50q
Client gratuities RM4.10q
Electricity RM1500 + RM0.10q
Rent RM28,500
Liability insurance RM2,800
Employee health insurance RM21,300
Miscellaneous RM1,200 + RM0.20q
b) The budgeted client-visits were 1,000.
c) Income statement for the month ended June 30:
| 2PM’s Hairstyling Income Statement For the month ended June 30 | |
| Actual client-visits | 1100 |
| RM | |
| Revenue | 194,200 |
| Expenses: | |
| Wages and salaries | 106,900 |
| Hairstyling supplies | 1,620 |
| Client gratuities | 6,870 |
| Electricity | 1,550 |
| Rent | 28,500 |
| Employee health insurance | 22,600 |
| Miscellaneous | 2,130 |
Required:
Prepare the Flexible Budget Performance Report for the month ended June 30 combining Activity Variances with Revenue and Spending variance
Step by step
Solved in 2 steps with 2 images
