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1. Is the report prepared by the bookkeeper useful as a performance report?
Chapter 10 Homework* Homework Help - QUA from On X|\\ + O 4 . @ 1 Not secure | ezto . mheducation . com / hm . tox* : Exchange Corp . is a company that acts as a facilitator in tax -favored real estate swaps . Such swaps , know as 1031 exchanges , permit participants to avoid some or all of the capital gains taxes that would otherwise be due . The bookkeeper for the company has been asked to prepare a report for the company to help its owner 'manager analyze performance . The first such report appears below` Exchange Corp Analysis of Revenues and Costs For the Month Ended May 31\\ Planning Budget Actual Unit Unit Revenues\\ REVENUES and Costs and Costs Variance s Exchanges completed 50 AD REVENUE $385 $ 10 1 Expenses` Legal and search fees 184 16:5 19 U Office expenses 112 135 23 F Equipment depreciation 10 Rent 3 5 45 NOIF I 9 F Insurance Total EXPENSE 344 360 TI 7 16 F Net operating income $ 41 $ 35 $ 6 F Note that the revenues and costs in the above report are unit revenues and costs . For example , the average office expense is 57.35 per exchange completed on the planning budget . whereas , the* average actual office expense is $ 1 12 per exchange completed ." Legal and search fees is a variable cost ; office expenses is a mixed cost ; and Equipment depreciation , rent , and insurance are fixed costs . In the planning budget , the fixed component of office EXPENSES was $5, 200 .\\ All of the company's revenues come from fees collected when an exchange is completed . Required :` 1 . Is the report prepared by the bookkeeper useful as a performance report ?" O Yes @ NO 2. Complete a performance report that would help the owner / manager assess the performance of the company in May . ( Indicate the effect of each variance by selecting " F " for favorable , " U " for* unfavorable , and " None " for no effect ( i.E ., zero variance ) . Input all amounts as positive values . !' O Type here to search aB Chapter'l Homework 3: HomemrkHeIp-QEAII'DMOH x | + x (- -) G G) Not secure I ezto.mheducation'comfhmmpx i} 9 Q o E Required: A 1. is the repon prepared by the bookkeeper useful as a performance report? C) Yes No 2. Complete a performance report that would help the ownerr'manager assess the performance of the company in May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect {i.e., zero variance). Input all amounts as positive values.) Exchanges completed Revenue Expenses: Legal and search fees Ofce expenses Equipment depreciation Insurance Total expense Net operating income REfEIEI'IDES 9300\" 3: Resources 0 Type here to search it
