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c l bc I Normal I No Spac.. Heading 1 Heading 2 Title ab x x A --A e Font Paragraph 1.1.2.1.3.4.1.56 17 18 19 Styles 10 11 12 13 14 15 16 Data used in budgeting: Variable Fixed element per month element per Revenue. Wages and salaries Supplies Insurance Miscellaneous $35.400 $0 $10.600 $7.200 customer $3.80 $1.20 $0.60 $0.00 $0.40 Actual results for October: Revenue Wages and salaries Supplies Insurance Miscellaneous $130.900 $75.700 $21.300 $10.200 $23.500 Required: Prepare the company's flexible budget performance report for October (calculate both activity variances and revenue and spending variances). Label each variance as favorable (F) or unfavorable (U). Use the templates given below. 11 12 13 1 5 16 18 19 10 11 12 13 14 15 16 Answers: Squillace Corporation Flexible Budget Performance Report Part 1 For the Month Ended October 31 Planning Activity Budget Variances (F/U) Flexible Budget Customers served (Q Revenues ($3.800 Expenses: Wages and salaries (535,400 + $1.200) Supplies (50.600) Insurance Miscellaneous ($7,200 + $0.400) Total expenses Net operating income States EN Fedung 2 Title Paragraph 1 2 3 4 5 6 7 8 Styles 19 10 11 12 LIDL 13 14 15 16 Squillace Corporation Flexible Budget Performance Report Part 2 For the Month Ended October 31 Flexible Revenue & Budget Spending Variances (F/U) Actual Budget Customers served (Q) Revenues ($3.800) Expenses: Wages and salaries ($35,400 + $1.200) Supplies (50.600) Insurance Miscellaneous ($7.200 + $0.400) Total expenses Net operating income Nabilah Wasidi References Mailings Review View Help O Search SH - A Aa-Po ba A E A A XADA A AaBbcc AaBbCd AaBbc Aabbcc AaB 1 Normal 11 No Spac... Heading 1 Heading 2 Title Find be Replace hos Select - Font Paragraph 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12 Styles Editing 17 18 13 14 15 16 "ine spenaing variance for materiais ana supplies in Apru wouia de closest to: A. $195 F B. $485 F C. $195 U D. $485 U 9. Squillace Corporation uses customers served as its measure of activity. During October, the company budgeted for 38,000 customers, but actually served 35,000 customers. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October: Data used in budgeting: Fixed element per month Revenue Wages and salaries Supplies Insurance Miscellaneous Variable element per customer $3.80 $1.20 $0.60 $0.00 S0.40 $35.400 $0 $10.600 $7.200 Actual results for October R-1 SL300