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Managerial Accounting. Please fill in Yellow blank and Questions. Q1> Prepare the planning budget of Rick's hairstyling using contribution I/S! Planning Budget Planning Budget 1,200
Managerial Accounting. Please fill in Yellow blank and Questions.
Q1> Prepare the planning budget of Rick's hairstyling using contribution I/S! Planning Budget Planning Budget 1,200 Contribution US For the Month Ended March 31 Revenue/Cost Formulas Number of client-visits (Q) Revenue ($180Q) Total Variable costs: (42.9Q) Wages and salaries ( $370) hairstyling supplies ($1.50) Client Gratuities ($4.1Q) Electricity ($0.10) Contribution Margin Total Fixed Costs ($120,300) Wages and salaries "($65,000) Rent "($28,500) Net operating income Q2> Prepare the flexible budget of Rick's hairstyling using contribution I/S! Flexible Budget Flexible Budget 1,100 Contribution VS For the Month Ended March 31 Revenue/Cost Formulas Number of client-visits (Q) Revenue ($180Q) Total Variable costs: (42.90) Wages and salaries ($370) hairstyling supplies ($1.5Q) Client Gratuities ($4.10) Electricity ($0.10) Contribution Margin Total Fixed Costs ($120,300) Wages and salaries "($65,000) Rent "($28,500) Net operating income Refer to the following the actual contribution I/S! Actual Result 1,100 Contribution I/S For the Month Ended March 31 Actual Results Number of client-visits (Q) Revenue $ 194,200 Total Variable costs: 60,1901 Wages and salaries hairstyling supplies Client Gratuities Electricity Contribution Margin $ 134,010 Total Fixed Costs 112,780 Wages and salaries Rent Net operating income $ 21,230 Qestion3> Prepare the performance report get of Rick's hairstyling using contribution I/S! Also, answer based on the contribution performance report. Q3.1> compute activity variance for revenue Q3.2> compute spending variance for variable costs Q3.3> compute spending variance for fixed costs Q3.4> compute spending variance for operating incomeStep by Step Solution
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