UESTION TO LPM Ltd. uses units produced as its measure of activity. During August, the company budgeted for 46,700 units of output, but actually produced 48,900 units of output. The company uses the following revenue and cost formulas in its budgeting, where is the number of units of output: Revenue: $9.100 Salaries: $31,050 + $2.459 Supplies: $1.259 Utilities: $0.600 Insurance: $23,090 Miscellaneous expenses: $13,800 + $0.219 The company reported the following actual results for August: Revenue $451,250 Salaries $148,360 Supplies $ 55,795 Utilities $ 31,920 Insurance $ 22,100 Miscellaneous expense $ 20,845 The revenue variance in August is: . $26,280 U b. $6,260 F C. $20,020 F d. $6,260 U e. $26,280 F . $26,280 U b. $6,260 F C. $20,020 F d. $6,260 U e. $26,280 F At the beginning of 2014, Many Faces, Co. had a Retained Earnings balance of $47,090. For the next three years, the firm reported the following net income (loss) and cash dividends declared and paid: Year: 2014 Net Income (loss): $19,560 ($16,850) $12,915 Cash Dividends: $1,560 $0 $995 2015 2016 What would be the balance of Retained Earnings reported on the year-end balance sheet as of 12/31/2016? a. $47,090 b. $49,645 C. $62,715 d. $60,160 e. $65,270