AirQual Test Corporation provides on-site air quality testing services. The comp

Question

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following data concerning its operations:

The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $5,000 plus $27 per job, and the actual mobile lab operating expenses for February were $8,670.

Complete the 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 (i.e., zero variance). Input all amounts as positive values.)

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following data concerning its operations:

AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Spending Variances Activity ari ar ces Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income

Explanation / Answer

Flexible Budget Activity variance Revenue Spenditure Variance Revenue 2208 U Expenses Technician 0 None 150 F Mobile Operating Expenses 216 F Office Expenses 16 F Advertisement 0 None 70 U Insurance 0 None 0 None Miscellaneous 8 F Total 240 Net Operating Income 1968

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