Exercise 9-17 Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4] ac

Question

Exercise 9-17 Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4] actual results for the month of February nt per for S 275 $35,750 $ 8,450 s 8,600 s 4,900 wages S 33 s 9,360 S 2, 630 s 1, 680 $ 2, 880 s425 expenses Office Advertising exponses Insurance s 2, 500 s 1, 610 $ 2,880 s 980 The company uses the number of jobs as its measure of activity For example, mobile lab operating expenses should be $4 900 plus $33 per job, and the actual m February, but actually worked 144 jobs Required: AirQual 1T for February. (Indicate the offect of ooch variance by selecting "F. for favorable"-U" for unfavorable, and "None" for no Flexible Bodget Performance Report For the Month Ended February 28 Flexible 144

Explanation / Answer

Prepare Flexible budget performance report :

Actual results Revenue and spending variance Flexible budget Activity Variance Planning budget Jobs 144 144 140 Revenue 35750 3850 U 39600 1100 F 38500 Expenses Technician wages 8450 150 F 8600 None 8600 Mobile Lab operating expenses 9360 292 F 9652 132 U 9520 Office expenses 2630 158 F 2788 8 U 2780 Advertising expenses 1680 70 U1 1610 None 1610 Insurance 2880 None 2880 None 2880 Miscellaneous expenses 425 699 F 1124 4 U 1120 Total expenses 25425 1229 F 26654 144 U 26510 Net operating income 10325 2621 U 12946 956 F 11990

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