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Jim operates his own summer lawn-mowing company using a truck and equipment dedicated solely to business operations. Complete the flexible budget performance report below to
Jim operates his own summer lawn-mowing company using a truck and equipment dedicated solely to business operations. Complete the flexible budget performance report below to answer the following questions:
Data Table A . B D E F 1 Jim's Mowing Business Flexible Budget Variance Flexible Budget Performance Report for June Flexible Budget Volume Variance Actual Master Budget 2 Sales volume (number of mowing jobs) 220 220 95 3 Operating expenses: 4 Variable operating expenses ($10 per job) $ 1,370 $ 1,270 $ 940 5 Fixed operating expenses ($500 per month) 475 500 500 6 Total operating expenses $ 1,845 $ 1,770 $ 1,440 Print Done Jim's Mowing Business Flexible Budget Variance Flexible Master Budget Volume Variance Budget Actual Flexible Budget Performance Report for June Sales volume (number of mowing jobs) 220 220 95 Operating expenses: Variable operating expenses ($10 per job) $ 1,370 $ $ 1,270 $ 940 475 500 500 Fixed operating expenses ($500 per month) $ 1,845 1,770 A 1,440 Total operating expenses 1. What is the volume variance for total operating expenses? Favorable or unfavorable? The volume variance for total operating expenses is 2. What is the flexible budget variance for total operating expenses? Favorable or unfavorable? The flexible budget variance for total operating expenses is 3. What is the master budget variance for total operating expenses? Favorable or unfavorable? The master budget variance for total operating expenses isStep by Step Solution
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