PROBLEM 2 (20 Points) Bubba\'s Charter Boat Service has provided the following d

Question

PROBLEM 2 (20 Points) Bubba's Charter Boat Service has provided the following data about its costs: Budgeted Fixed Costs Per Month Budgeted Revenue/Costs per Charter S500 Actual Revenue/Costs $79,500 S 9,200 S 9,440 $12,800 S 2,670 S 5,980 S 835 S 5,360 Revenue Salaries S9,150 Cleaning Equipment Depreciation Port Fees Maintenance Utilities $60.50 S12,100 $15.75 S35.25 $860 $4,980 Slip Fees The company had 160 Charters during the past month. REQUIRED Prepare a report showing the company's revenue and spending variances for the month.

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Flexible Budget Actual Variance F or U Revenue              80,000.00              79,500.00                       500.00 F Costs: Salaries                9,150.00                9,200.00                       (50.00) U Cleaning                9,680.00                9,440.00                       240.00 F Equipment depreciation              12,100.00              12,800.00                     (700.00) U port fees                2,520.00                2,670.00                     (150.00) U Maintenance                5,640.00                5,980.00                     (340.00) U Utilities                    860.00                    835.00                          25.00 F Slip fees                4,980.00                5,360.00                     (380.00) U Total costs              44,930.00              46,285.00                 (1,355.00) U Income              35,070.00              33,215.00                    1,855.00 U

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