Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted...
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Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for customers, but actually served customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $qWages and salaries: $ $qSupplies: $qInsurance: $Miscellaneous expenses: $ $q The company reported the following actual results for February: Revenue$ Wages and salaries$ Supplies$ Insurance$ Miscellaneous expense$ Required:Prepare the company's flexible budget performance report for February. Label each variance as favorable F or unfavorable UIndicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for customers, but actually served customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $qWages and salaries: $ $qSupplies: $qInsurance: $Miscellaneous expenses: $ $q The company reported the following actual results for February: Revenue$ Wages and salaries$ Supplies$ Insurance$ Miscellaneous expense$ Required:Prepare the company's flexible budget performance report for February. Label each variance as favorable F or unfavorable UIndicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
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