Answer
Revenue & Spending Variance |
||
Revenues |
$ 7,160.00 |
U |
Expenses: |
||
Raw materials |
$ 625.00 |
U |
Wages |
$ 430.00 |
F |
Utilities |
$ 800.00 |
U |
Rent |
$ - |
N |
Insurance |
$ - |
N |
Miscellaneous |
$ 745.00 |
F |
Total Expenses |
$ 250.00 |
U |
Net Operating Income |
$ 7,410.00 |
U |
--Working for Flexible Budget
WORKING COLUMNS |
Actual Result |
Revenue & Spending Variance |
Flexible Budget |
|||||||
Cars washed |
6,300 |
6,300 |
||||||||
Revenues |
$ 29.00 |
$ 175,540.00 |
$ 7,160.00 |
U |
$ 182,700.00 |
|||||
Expenses: |
||||||||||
Raw materials |
( |
$ - |
) |
$ 6.35 |
x 6300 or 6100 |
$ 40,630.00 |
$ 625.00 |
U |
$ 40,005.00 |
|
Wages |
( |
$ 7,300.00 |
) |
$ 3.10 |
x 6300 or |
) |
$ 26,400.00 |
$ 430.00 |
F |
$ 26,830.00 |
Utilities |
( |
$ 3,330.00 |
+ |
$ 1.90 |
x 6300 or 176900 |
) |
$ 16,100.00 |
$ 800.00 |
U |
$ 15,300.00 |
Rent |
( |
$ 4,300.00 |
+ |
$ - |
x 6300 or |
) |
$ 4,300.00 |
$ - |
N |
$ 4,300.00 |
Insurance |
( |
$ 3,050.00 |
+ |
$ - |
x 6300 or 38735 |
$ 3,050.00 |
$ - |
N |
$ 3,050.00 |
|
Miscellaneous |
( |
$ 820.00 |
) |
$ 2.05 |
x 6300 or 26210 |
$ 12,990.00 |
$ 745.00 |
F |
$ 13,735.00 |
|
Total Expenses |
$ 18,800.00 |
$ 13.40 |
$ 103,470.00 |
$ 250.00 |
U |
$ 103,220.00 |
||||
Net Operating Income |
$ 72,070.00 |
$ 7,410.00 |
U |
$ 79,480.00 |
Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concering...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element Actual Total per Liter 29.00 S 6.35 3.10 s 1.90 for June 175,540 40,630 $ Revenue Raw materials 7,300 $ 3,330 4,300 3,050 Wages Utilities 26,400 16,100 4,300 3,050 12,990 Rent Insurance $ 2.05 Miscellaneous 820 While gelato is sold by the cone or cup, the shop measures its activity...
Exercise 9-16 Flexible Budgets and Revenue and Spending Varlances [LO9-1, LO9-3] Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Variable Element per Liter $ 29.09 $ 6.35 $ 3.10 $ 1.90 $ 7,300 $ 3.330 $ 4,300 $ 3.ese $ 829 Actual Total for June $ 175, 548 $ 40.639 $ 26,400...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 30.00 $ 190,540 Raw materials $ 6.45 $ 42,930 Wages $ 7,400 $ 3.20 $ 28,400 Utilities $ 3,430 $ 2.00 $ 17,300 Rent $ 4,400 $ 4,400 Insurance $ 3,150 $ 3,150 Miscellaneous $ 830 $ 2.15 $ 14,390 While gelato...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June Fixed Element per Month Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Variable Element per Liter $ 12.00 $ 4.65 $ 1.40 $ 0.20 $ 5,600 $ 1,630 $ 2,600 $ 1,350 $ 650 Actual Total for June $ 71,540 $ 29, 230 $ 13,860 $ 3,270 $ 2,600 $ 1,350 $ 2,590 $ 0.35 While...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 12.00 $ 71,540 Raw materials $ 4.65 $ 29,230 Wages $ 5,600 $ 1.40 $ 13,860 Utilities $ 1,630 $ 0.20 $ 3,270 Rent $ 2,600 $ 2,600 Insurance $ 1,350 $ 1,350 Miscellaneous $ 650 $ 0.35 $ 2,590 While gelato...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 13.00 $ 72,540 Raw materials $ 4.75 $ 30,330 Wages $ 5,700 $ 1.50 $ 14,560 Utilities $ 1,730 $ 0.30 $ 3,800 Rent $ 2,700 $ 2,700 Insurance $ 1,450 $ 1,450 Miscellaneous $ 660 $ 0.45 $ 2,990 While gelato...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Variable Element per liter $ 19.00 $ 5.35 $ 2.10 $ 0.90 $ 6,300 $ 2,330 $ 3,300 $ 2,050 $ 720 Actual Total for June $ 111,530 $ 33,830 $ 18,900 $ 8,100 $ 3,300 $ 2,050 $ 6,900 $ 1.05 While gelato...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 22.00 $ 130,540 Raw materials $ 5.65 $ 35,930 Wages $ 6,600 $ 2.40 $ 21,000 Utilities $ 2,630 $ 1.20 $ 10,500 Rent $ 3,600 $ 3,600 Insurance $ 2,350 $ 2,350 Miscellaneous $ 750 $ 1.35 $ 8,590 While gelato is sold by the cone or...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 23.00 $ 140,540 Raw materials $ 5.75 $ 37,030 Wages $ 6,700 $ 2.50 $ 21,800 Utilities $ 2,730 $ 1.30 $ 11,600 Rent $ 3,700 $ 3,700 Insurance $ 2,450 $ 2,450 Miscellaneous $ 760 $ 1.45 $ 9,390 While gelato...
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 12.00 $ 71,540 Raw materials $ 4.65 $ 29,230 Wages $ 5,600 $ 1.40 $ 13,860 Utilities $ 1,630 $ 0.20 $ 3,270 Rent $ 2,600 $ 2,600 Insurance $ 1,350 $ 1,350 Miscellaneous $ 650 $ 0.35 $ 2,590 While gelato...