Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Cost per Repair-Hour $15.00 Fixed Cost per Month $20,500 Parts and supplies $ 7.50 Equipment depreciation $ 2,770 $ 0.35 Truck operating expenses Rent $ 5,740 $ 1.70 $ 4,650 Administrative expenses $ 3,860 $ 0.70 For example, wages and salaries should be $20,500 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hou in May, but actually worked 2,700 repair-hours. The company expects its sales to be $50.00 per repair-hour. Required: Compute the company's activity variances for May. (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.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expenses: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Cost per Repair-Hour $15.00 Fixed Cost per Month $20,500 Parts and supplies $ 7.50 Equipment depreciation $ 2,770 $ 0.35 Truck operating expenses Rent $ 5,740 $ 1.70 $ 4,650 Administrative expenses $ 3,860 $ 0.70 For example, wages and salaries should be $20,500 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hou in May, but actually worked 2,700 repair-hours. The company expects its sales to be $50.00 per repair-hour. Required: Compute the company's activity variances for May. (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.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expenses: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EA: The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express...

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Jake’s Roof Repair has provided the following data concerning its costs:Fixed Cost Cost perper Month Repair-HourWages and salaries ..................... $23,200 $16.30Parts and supplies ........................ $8.60Equipment depreciation ................ $1,600 $0.40Truck operating expenses ........... $6,400 $1.70Rent .............................................. $3,480Administrative expenses ............... $4,500 $0.80For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected towork 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales tobe $44.50 per repair-hour.Required:Prepare a report showing the company’s activity variances for May
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