Question
Voytek Corporation bases its budgets on the activity measure customers served. During October, the company planned to serve 36,000 customers, but actually served 34,000 customers.
| Voytek Corporation bases its budgets on the activity measure customers served. During October, the company planned to serve 36,000 customers, but actually served 34,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: |
| Fixed element per month | Variable element per customer | |||||
| Revenue | $ | 3.84 | ||||
| Wages and salaries | $ | 38000 | $ | 1.31 | ||
| Supplies | $ | 0 | $ | 0.61 | ||
| Insurance | $ | 8,500 | $ | 0.00 | ||
| Miscellaneous | $ | 8,000 | $ | 0.51 | ||
| Required: |
| Prepare a report showing the company's activity variances for October. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) |
I need assistance in making sure my calculations are correct
| Voytek Corporation Activity Variances For the Month Ended October 31 | ||
| Revenue | $ | (Click to select)FNoneU |
| Expenses: | ||
| Wages and salaries | (Click to select)NoneFU | |
| Supplies | (Click to select)NoneFU | |
| Insurance | (Click to select)NoneFU | |
| Miscellaneous | (Click to select)UFNone | |
| Total expense | (Click to select)UFNone | |
| Net operating income | $ | (Click to select)UNoneF |
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Auditing And Assurance Services A Systematic Approach
Authors: William F. Messier
6th Edition
0073526908, 9780073526904
