Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Performance reporting The chair of the Science Department of State University has a budget for laboratory supplies. Supplies have a variable cost behavior pattern that

Performance reporting The chair of the Science Department of State University has a budget for laboratory supplies. Supplies have a variable cost behavior pattern that is a function of the number of students enrolled in laboratory courses. For planning puposes, when the budget was prepared in March 2019, it was estimated that 300 students would be enrolled in laboratory courses during the fall 2019 semester. Actual enrollment for the fall semester was 318 students.

Required:

A . Explain what action should be taken with respect to the supplies budget when the actual enrollment is known.

B . Would your answer to part a be any different if the actual enrollment turned out to be 273 students?Explain your answer

C . Suppose the budget item in question was the salary for the lab assistant. How would your answer to part a and part b change, if at all? Explain your answer

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

Basic Accounting Concepts Principles And Procedures Volume 1

Authors: Gregory Mostyn, Worthy And James

2nd Edition

0991423100, 978-0991423101

More Books

Students also viewed these Accounting questions

Question

How were the HR functions affected by Hurricane Rita?

Answered: 1 week ago

Question

What information might lead you to choose working for the company?

Answered: 1 week ago

Question

Which environment factor(s) did Hurricane Rita affect? Discuss.

Answered: 1 week ago