Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE SHOW SOLUTIONS. THANK YOU Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actua

image text in transcribedimage text in transcribed

PLEASE SHOW SOLUTIONS. THANK YOU

Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actua operating results for the month of November: Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results Planning Budget Variances Customers served 32,000 31,000 Revenue ($3.409) $108,600 $105,400 $3,200 F Expenses : Wages and salaries ($23,100 + $1.219) 61,820 60,610 1,210 U Supplies ($0.619) 17,910 18,910 1,000 F Insurance ($5,000) 5,000 5,000 0 None Miscellaneous expense ($4,000 + $0.300) 12,300 13,300 1,000 F Total expense 97,030 97,820 790 F Net operating income $ 11,570 $ 7,580 $ 3,990 F Required: Prepare the company's Comprehensive Performance Report for November. Label each variance as favorable (F) or unfavorable (U). (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.) Bickel Corporation Comprehensive Performance Report For the Month Ended November 30 Actual Results Flexible Budget Variance Flexible Budget Static Budget Variance Planning Budget 32,000 32,000 31,000 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions