PROBLEM 10.1 Flexible Budgets and Activity Variances Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per Repair-Hour per Month $23,200 Wages and salarles ....... Parts and supplies... Equipment depreciation .... Truck operating expenses Rent...... Administrative expenses... $16.30 $8.60 $0.40 $1.70 $1,600 $6,400 $3,480 $4,500 $0.80 Page 463 For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour. Required: Prepare a report showing the company's activity variances for May. Note: To prepare activity variance, you do not need actual results, so above given information is enough