Headquartered in Eastern Pennsylvania, Petroleum Service Company (PSC) was founded in 1924 and incorporated in...
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Headquartered in Eastern Pennsylvania, Petroleum Service Company (PSC) was founded in 1924 and incorporated in 1930. PSC is an oilfield services company. PSC's accountant is reviewing the budget and notes the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Month per Well Serviced Revenue $4,000 Employee salaries and wages $ 43,800 $ 1,000 Servicing materials $600 Other expenses $ 38,200 A total of 42 wells were actually serviced during October. The revenue in the company's flexible budget for October would have been closest to: A)$150,114 B)$168,000 C)$148,000 D)$170,400
Fixed Element per Month
Variable Element per Month per Well Serviced Revenue $4,000
Employee salaries and wages $ 43,800 $ 1,000
Servicing materials $600
Other expenses $ 38,200
A total of 42 wells were actually serviced during October.
The revenue in the company's flexible budget for October would have been closest to:
A)$150,114
B)$168,000
C)$148,000
D)$170,400
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