Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is the Planning Budget and Actual Results for Larry's Lawn Service Larry's Lawn Service For the Month Ended June 30 Planning Revenue/Cost Formulas Budget
Below is the Planning Budget and Actual Results for Larry's Lawn Service Larry's Lawn Service For the Month Ended June 30 Planning Revenue/Cost Formulas Budget Number of lawns (Q) Revenue Expenses: ($75a) $ 37,500 132.6520 Wages and salaries Gasoline and supplies Equipment maintenance Office and shop utilities Office and shop rent Equipment Depreciation Insurance ($5,000+$30Q) ($9a) (s3a) ($1,000) ($2,000) ($2,50o) ($1,000) $ 20,000 4,500 1.500 1,000 2,000 2,500 1.000 Total expenses Net operating income 5,000 For the Month Ended June 30 Actua Number of #awns 43 000 Ex pense $ Ga soline and supplies Equipment maintenance Office and shop utisities Offiee and shop rent Equipment Depreclatien Insur 23,50o 5.100 1.30o 950 2.000 2,500 Total expensos Net ope raating income 11. The "activity variance" for wages and salaries is: A. $1,500 F B. $1,500U C. $1,750 U D. $1,750 F 12. The "Spending Variance" for wages and salaries is: A. $3,500 F B. $3,500 U C. $2,000 U D. $2,000 F 9 Page
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