Syllabus 2017 Fall TemmxN CHAPTER 7 Budgeting NX) -) cl ezta.mheducation.com/hm.

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Syllabus 2017 Fall TemmxN CHAPTER 7 Budgeting NX) -) cl ezta.mheducation.com/hm.tpx AppsDoorman jobs- Inde Bois d'Argent on Dic Recitation 11192017-2 x:- Connect Product: Dunk ND H M McGraw-Hill Connectw Cicchetti Corporation uses customers served as its measure of actvity The following report compares the planning budget to the actual operating results for the month of December Cicchett Corporation Companison ot Actual Resuts to Planning Budget For the Month Ended December 31 Actual Planning Resuts Budget 24,000 23,000 Customers served Revenue (3.60q) $ 86700 $ 82,800 $ 3900F Experses wages and salaries ($22,300 . SI 130 Supplies (50.530) Insurance ($4,200) Miscellaneous expense (53 200 .33) 9 49.420 48,290 1.130 U 9590 10,7901.200 F 74,200 75,470 1,270 F 10 990 12 190 1200 F 4,200 4200 Total expense Net opetalting income s 12.500 7,330 S 5,170 F Required: 1 Piepare a repon showing the comoany s revanue and spending variances tor December (Indicate the effect of each variance by selecting "F for favorable, U for unfavorable, and 'None for no effect ie., zero variance).1 CICCHETTI CORPORATION Revsnue and Speniding Variances For the Month Ended December 31 Actual Ravenue and Spending Flexible Resuits 24.0 Customers served Reverue 86,700 O Type here tosearch

Explanation / Answer

Actual Revenue and spending variances Flexible budget Customers served 24000 24000 Revenue 86700 300 F 86400 Expenses: Wages and salaries 49420 0 None 49420 Supplies 10990 1730 F 12720 Insurance 4200 0 None 4200 Miscellaneous expenses 9590 1530 F 11120 Total expense 74200 3260 F 77460 Net operating income 12500 3560 F 8940

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