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Category > Management Posted 23 Dec 2017 My Price 10.00

company's revenue and spending variances for October

Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company’s costs:

 

  Fixed Cost
per Month		   Cost per
Car Washed
  Cleaning supplies             $ 0.70     
  Electricity   $ 1,400        $ 0.10     
  Maintenance             $ 0.30     
  Wages and salaries   $ 4,700        $ 0.40     
  Depreciation   $ 8,300               
  Rent   $ 2,100               
  Administrative expenses   $ 1,800        $ 0.05     
 

 

For example, electricity costs are $1,400 per month plus $0.10 per car washed. The company expects to wash 8,000 cars in October and to collect an average of $5.90 per car washed.

 

The actual operating results for October appear below:

 

Auto Lavage
Income Statement
For the Month Ended October 31
  Actual cars washed   8,100   
  Revenue $ 49,300   
     
  Expenses:  
      Cleaning supplies   6,100   
      Electricity   2,170   
      Maintenance   2,640   
      Wages and salaries   8,260   
      Depreciation   8,300   
      Rent   2,300   
      Administrative expenses   2,100   
     
  Total expense   31,870   
     
  Net operating income $ 17,430   
     
 

 

Required:

Compute the company's revenue and spending variances for October. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)

 

Answers

CourseLover
(12)
Status NEW Posted 23 Dec 2017 07:12 AM My Price 10.00

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