Solved: Flexible Budgets x | Secure | https://newconnect.mheducation.com/flow/co

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Solved: Flexible Budgets x | Secure | https://newconnect.mheducation.com/flow/connect.html ect Chapter 9 Homework Saved Help 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 3.33 points Variable 277 $ 34 Fixed Component per Month Actual Total Component per Job for February Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses 8,200 4,980 2,500 s1,610 2,850 $ 930 30,490 8,050 8,820 2,590 1,680 s 2,850 475 eBook The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $34 per job, and the actual mobile lab operating expenses for February were $8,820. 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 ell amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Planning Flexible Budget Actual Jobs 122 Revenue S 30,490 Prey 10f Next > Hil

Explanation / Answer

Actual Revenue and spending variances Flexible budget Activity variances Planning budget Jobs 122 122 120 Revenue 30490 3304 U 33794 554 F 33240 Expenses: Technician wages 8050 150 F 8200 0 None 8200 Mobile lab operating expenses 8820 228 F 9048 68 U 8980 Office expenses 2590 154 F 2744 4 U 2740 Advertising expenses 1680 70 U 1610 0 None 1610 Insurance 2850 0 None 2850 0 None 2850 Miscellaneous expenses 475 699 F 1174 4 U 1170 Total expenses 24465 1161 F 25626 76 U 25550 Net operating income 6025 2143 U 8168 478 F 7690

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