Sube Help Save & Exh Beau Salon provides facial spa and skincare services. The salon uses two measures of its activity. Customers and Service Hours. Additional Information on costs and level of activity are below: Budget for salon expenses: Fixed Cost per Month Variable Cost per Customer Variable Cost per Service Hour $18,700 $100 per customer 515 per service hour Actual salon expenses for the month of February are $41,200 Number of customers in February Number of service hours in February Budget Actual 120106 5005 What is the Activity Variance for salon expenses in February? Multiple Choice 0 $695 Favorable 20 Next > Herald company, a jacket selling company, prepares its master budget for the year 2020 on a quarterly basis. The budget officer has gathered the following data: 1. Estimated Sales for each quarter is $230,000. All sales are on credit and all sales are collected in the following quarter. 2. Cost of goods sold for each quarter is $100,000 3. Variable selling and administrative expenses for each jacket are 10% sales commission 4. Fixed selling and administrative (S&A) expenses for the year are: Advertising Executive salaries Insurance Depreciation Total fixed S&A expenses $60,000 $120,000 $40,000 $20.000 $240.000 5. The company expects to borrow $80,000 on April, 1.2020. No principal will be repaid during the year, Interest rate at an annual rate of 10% is due quarterly. 6. The company will declare $3.000 dividend in December 2020, which will be paid in January 2021 How much is the net income for the year 2020?