Cicchetti Corporation uses customers served as its measure of activity. The foll

Question

Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December: Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning ResultsBudget Variances Customers served Revenue (3.40q) 29,00028,000 S 98,800 S 95,200 3,600 F Expenses: Wages and salaries ($22,800+$1.18q)57,020 55,840 Supplies ($0.58q) Insurance ($4,700) Miscellaneous expense ($3,700 + $.38q)12,640 14,340 1,180 U 14,540 16,240 1,700 F 1,700 F 88,900 91,120 2,220 F $ 9,900 4,080 5,820F 4,700 4,700 Total expense Net operating income

Explanation / Answer

Revenue and spending variance Actual Revenue and Spending Flexible Results variance budget Customers served 29,000 29,000 Revenue 98,800 200 F 98600 Expenses: Wages and salaries 57,020 0 N 57020 Supplies 14,540 2,280 F 16820 Insurance 4,700 0 N 4,700 Miscellanoeus expense 12,640 2,080 F 14720 total expense 88,900 4,360 F 93260 Net operating income 9,900 4,560 F 5340

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