Calculate the following variances for Customer Z of Toms Limo Services. Mark each variance as favorable or
Question:
Calculate the following variances for Customer Z of Tom’s Limo Services. Mark each variance as favorable or unfavorable. Remember that if the variance of actual minus budget is negative for revenues, it is unfavorable, but would be favorable for expenses. If need be, just think through the relationship.
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Customer Z Profit Analysis Line Item Budget Actual Revenue $2,800.00 $2,600.00 Less: Cost of sales $1,344.00 $1,222.00 Gross margin $1,456.00 $1,378.00 Pickup orders $250.00 $300.00 Limo downtime $250.00 $150.00 Invoicing $125.00 $160.00 General overhead $500.00 $600.00 Total SG&A costs $1,125.00 $1,210.00 Customer profitability $331.00 $168.00
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Related Book For
Managerial Accounting An Integrative Approach
ISBN: 9780999500491
2nd Edition
Authors: C J Mcnair Connoly, Kenneth Merchant
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