The Southern Corporation manufactures a single product and has the following cost structure: 7. Skipped Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative $ $ 32 13 $98,770 $86,920 Last year, 5,810 units were produced and 5,610 units were sold. There was no beginning inventory The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be: Multiple Choice Multiple Choice the same as absorption costing. $5,610 greater than under absorption costing. $5,610 less than under absorption costing. O $3.400 less than under absorption costing. 27 Feemster Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5,900 units, but its actual level of activity was 5,850 units. 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 Variable element per unit $ 29.90 Revenue $ $ 5.60 8.69 1.30 Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses 37,000 27,200 0.80 $ 64,200 $ 16.30 Actual results for October: Revenue Direct labor Direct materials Manufacturine overhead $176,095 $ 31,510 $ 49,800 $ 45.775 The activity variance for selling and administrative expenses in October would be closest to: 27 Multiple Choice $250 F $40 U $250 U $40 F 28 Lochner Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for June Revenue Employee salaries and wages Servicing materials Other expenses Fixed Element Variable Element Actual Total per Month per Well Serviced for June $ 5,600 $ 148,000 $ 40,600 $ 1,200 $ 73,700 $ 589 $ 13,600 $ 42,800 $ 43,300 When the company prepared its planning budget at the beginning of June, it assumed that 24 wells would have been serviced. However, 26 wells were actually serviced during June The revenue variance in the Revenue and Spending Variances column of a report comparing actual results to the flexible budget for June would have been closest to 28 Multiple Choice $2,400 U $13,600 U $2,400 F $13,600 F