Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Flexible Planning Results Budget Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,510 ? $ 8,400 What is the spending variance for wages and salaries expense? o $66 U $176 F $176 U O $66 F

Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Flexible Planning Results Budget Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,510 ? $ 8,400 What is the spending variance for wages and salaries expense? o $66 U $176 F $176 U O $66 F

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 4MC: Which approach is most likely to result in employee buy-in to the budget? A. top-down approach B....

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Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U
Assume that a company provided the following excerpts of Information from its flexible budget performance report Actual Results Courses (91) students (92) Expenses: Administrative expense ($125+ $25091 + $3092) What is the administrative expense activity variance? Multiple Choice O O $550 P $225 F $1.575 P 51125 M 8 260 $ 8,900 Flexible Planning Budget Budget 2 9 > ? 270 $?
Assume that a company provided the following excerpts of information from its flexible budget performance report: Flexible Planning Actual Results Budget 52 Flights (q) Expenses: Wages and salaries ($4,000+ $88.00g) What is the activity variance for wages and salaries expense? Multiple Choice O $176 U $176 F $66 F $66 U $ 8,510 Budget ? ? ? $ 8,400
A company provided the following information from its flexible budget performance report: Actual Flexible Master Results Budget Budget Trips (q) 52 Expenses: Maintenance expense ($4,000 + $88.00g) $8,495 ? $8,400 What is the spending variance for maintenance expense? Multiple Choice None of the answers is correct. $176 U $81 U $81 F
307 budget and a static budget is true? budget is prepared for performance evaluation. b. a static budget provides costs for one level of activity. a. C. only fixed costs. techniques, the planned cost column should be based on the b. Actual amount for the same period in the preceding year. c. Budget adjusted to the actual level of activity for the period being reported. d. Budget adjusted to the planned level of activity for the períod being reported, (ста) 149.The use of standard of costs in the budgeting process signifies that an organization has most likely implemented a Flexible budget. b. Capital budget. Static budget. d. Strategic budget. a. с. (cma) 150. When a flexible budget is used, an increase in production levels within a relevance range would a. Not change fixed costs per unit. b. Change total fixed costs. Not change variable costs per unit. d. Not change total variable costs. C. (aicpa)
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Which approach is most likely to result in employee buy-in to the budget? A. top-down approach B. bottom-up approach C. total participation approach D. basing the budget on the prior year
a) Why do successful companies tend to use the bottom-up approach to establish a master budget? b) Green Tea’s data show the following information for the financial year, beginning July 2020: July Aug. Sept. Oct. Nov. Estimated sales (units) 25,000 25,000 27,000 27,500 28,000 Sales price per unit $31 $31 $31 $31 $31 Direct labour per unit $1.75 $1.75 $1.50 $1.50 $1.50 Labour rate per hour $21 $21 $24 $24 $24 New machinery will be added in September. This machine will reduce the labour required per unit and increase the labour rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month’s requirements. Direct material requires 2.5 kg per unit at a cost of $5 per kg. The ending inventory required for direct materials is 20% of the next month’s needs. In July, the beginning inventory is 3,750 units of finished goods and 13,125 kg of…
The following information relates to a department of I. Graham Standard Costs and Operating Performance Measures Standard Costs and Operating Performance Measures 33. 357 Company for the fourth quarter 2018: Actual total overhead (fixed plus variable) Budget formula... Total overhead application rate... Spending variance Volume variance... P178,500 P110,000 plus PO.50 per hour P1.50 per hour P8,000 unfavorable P5,000 favorable ..... The total overhead variance is divided into three variances: spending, efficiency, and volume. What were the actual hours worked in this department during the quarter? 110,000 b. a. 137,000 153,000 с. 121,000 d. Refer to Question no. 33. What were the standard hours ailowed for good output in this department during the quarter? 105,000 b. 34. 120,000 115,000 a. C. 106,667 d. 35. Refer to Question no. 33. Each unit takes five hours to manufacture, and the selling price is P4.50 per unit. Based on the overhead budget fermula, how many units must be sold to…
COTB MC Qu. 9-41 (Algo) Assume that the amount of one... Assume that the amount of one of a company's fixed expenses in its flexible budget is $46,000. The actual amount of the expense is $49,600 and the amount in the company's planning budget is $46,000. The spending variance for this expense is: Multiple Choice $0. $3,600 U.
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Required Informati (The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: pexTA Elenent Variable Element per Cuntomer Served $ 5,800 $1,200 $ 570 Actual Total for May $184,000 $ 105,300 $ 16,500 * 41,600 per Month Revenue Enployee salaries and wagen Travel expennes other expenees $65,000 44,000 When preparing its planning budget the company estimated that it would serve 30 customers per month; however, du May the company octually served 35 customers. 5. What net operating income would appear in Adger's flexible budget for May? Net operating income