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AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Jobs Revenue Expenses Technician wages Moble lab operating expenses The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4.700 plus $34 per job, and the actual mobille lab operating expenses for February were $8,960. The company expected to work 130 jobs in February, but actually worked 134 Jobs. Office expenses Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income Actual Results Fixed Component per Month 134 $ 8,100 $4,700 $ 2,300 $1,570 $2,890 950 $ $ 33.520 Variable Actual Total Component per Job for February $ 279 7,950 8.900 2.870 1.840 2,800 515 24.625 $8,895 $34 $4 AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Flexible Budget $33,520 $7,950 $ 8,960 $ 2,670 $ 1,640 $ 2,890 S 515 Planning Budget

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Jobs Revenue Expenses Technician wages Moble lab operating expenses The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4.700 plus $34 per job, and the actual mobille lab operating expenses for February were $8,960. The company expected to work 130 jobs in February, but actually worked 134 Jobs. Office expenses Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income Actual Results Fixed Component per Month 134 $ 8,100 $4,700 $ 2,300 $1,570 $2,890 950 $ $ 33.520 Variable Actual Total Component per Job for February $ 279 7,950 8.900 2.870 1.840 2,800 515 24.625 $8,895 $34 $4 AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Flexible Budget $33,520 $7,950 $ 8,960 $ 2,670 $ 1,640 $ 2,890 S 515 Planning Budget

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...
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AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Jobs Revenue Expenses Technician wages Moble lab operating The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $34 per job, and the actual mobile lab operating expenses for February were $8,960. The company expected to work 130 jobs in February, but actually worked 134 jobs. expenses Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending varlances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income Actual Results 134 Fixed Component per Month $ 33.520 $ 8,100 $4,700 $ 2,300 $1,570 $2,890 S 950 7,950 8.900 2.870 1.840 2.800 Variable Actual Total Component per Job for February $ 279 AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Flexible Budget 515 24.625 $ 0,895 $34 $4 $33,520 $ 7,958 $ 8,960 $ 2,670 $ 1,640 $ 2,890 S 515 Planning Budget
Transcribed Image Text:AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Jobs Revenue Expenses Technician wages Moble lab operating The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $34 per job, and the actual mobile lab operating expenses for February were $8,960. The company expected to work 130 jobs in February, but actually worked 134 jobs. expenses Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending varlances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income Actual Results 134 Fixed Component per Month $ 33.520 $ 8,100 $4,700 $ 2,300 $1,570 $2,890 S 950 7,950 8.900 2.870 1.840 2.800 Variable Actual Total Component per Job for February $ 279 AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Flexible Budget 515 24.625 $ 0,895 $34 $4 $33,520 $ 7,958 $ 8,960 $ 2,670 $ 1,640 $ 2,890 S 515 Planning Budget
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