Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

AirQual Test.... NEED HELP ASAP AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results

AirQual Test.... NEED HELP ASAP
image text in transcribed
image text in transcribed
AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component per Job $ 278 Revenue Technician wages Mobile lab operating expenses otice expenses Advertising expenses Insurance Miscellaneous expenses $ 31 $2 $ 8,300 $ 4,900 $ 2,500 $1,580 $ 2,890 950 Actual Total for February 536,170 $ 8,150 $ 9,080 $ 2,630 5 1.650 $ 2,890 $ 395 $ 1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $31 per job, and the actual mobile la operating expenses for February were $9.080. The company expected to work 140 jobs in February, but actually worked 142 jobs Required: Prepare a flexible budget performance report showing Air Qual Test Corporation's revenue and spending variances and activity variances for February (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.) Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget Planning Budget Jobs 142 + S 36,170 8,150 9,080 Revenue Expenses Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 2,630 1.650 2,890 395 24,795 $ 11,375

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Peace Love Auditing Journal

Authors: Epic Love Books

1st Edition

1697161693, 978-1697161694

More Books

Students also viewed these Accounting questions

Question

What is job enlargement ?

Answered: 1 week ago

Question

what is the most common cause of preterm birth in twin pregnancies?

Answered: 1 week ago

Question

Which diagnostic test is most commonly used to confirm PROM?

Answered: 1 week ago

Question

What is the hallmark clinical feature of a molar pregnancy?

Answered: 1 week ago