Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7 Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Bour 2.5 points 031149 eBook Hint Print
7 Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Bour 2.5 points 031149 eBook Hint Print Wages and salaries Parts and supplies Equipment depreciation 21,300 $15.00 $7.40 $2,760 $0.45 Truck operating expenses $5,790 $1.70 $ 4,650 $ 3,840 50.50 Rent Administrative expenses For example, wages and salaries should be $21.300 plus $15.00 per repair-hour. The company expected to work 3,000 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $46.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue References Expenses Wages and salaries Parts and supplies $ 4,600 U 1.500 F 740 F 45 Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operasing income EL 0 None 50F F 2
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started