An oil well service company measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Well Serviced Revenue $5,500 Employee salaries and wages $53,700 $1,300 Servicing materials $ 600 Other expenses $34,400 When the company prepared its planning budget at the beginning of May, it assumed that 27 wells would have been serviced. However, 31 wells were actually serviced.The amount shown for net operating income in the planning budget for the month would have been closest to:
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A shipping container refurbishment company measures its outp…
A shipping container refurbishment company measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for November. Fixed Element per MonthVariable Element per Container RefurbishedActual Total for NovemberRevenue $ 5,900$ 108,300Employee salaries and wages$ 49,500$ 900$ 66,000Refurbishing materials $ 500$ 9,500Other expenses$ 40,300 $ 39,800When the company prepared its planning budget at the beginning of November, it assumed that 22 containers would be refurbished. However, 18 containers were actually refurbished.The revenue variance in the Revenue and Spending Variances column of a report comparing actual results to the flexible budget for the month would have been closest to:
A medical clinic uses patient-visits as its measure of activ…
A medical clinic uses patient-visits as its measure of activity. The following Flexible Budget Performance Report will be used to compare the planning budget to the actual operating results for the month of December. Add the flexible budget and compute the revenue and spending variances and then the quantity variances for the month. Actual Results COL A COL B COL CPlanning BudgetPatient-visits (q)2,000 2,100Revenue ($53.90q)$ 107,880 $ 113,190Personnel expenses ($27,500 + $26.40q)$ 79,090 $ 82,940Medical suuplies ($11,000 + $2.80q)$ 16,680 $ 16,880Net operating income$ 12,110 $ 13,370Required:Label 3 lines in the answer area COL A, COL B, COL C. Put the proper label to start the column entries and then the numbers you would place in the boxes under that label.$a. Prepare the company’s flexible budget for the month in the proper column of the performance report. (4)b. Fill in the dollar amount of the revenue and spending variances and label each of the variances from revenue through net operating income properly as either favorable (F) or unfavorable (U). (4)c. Fill in the dollar amount of the activity variances and label each of the variances from revenue through net operating income properly as either favorable (F) or unfavorable (U). (4)(Numbers for variances will receive no credit without indicating whether they are favorable or unfavorable)d. Label both variance columns. (1)
You have 120 minutes and can backtrack to earlier questions…
You have 120 minutes and can backtrack to earlier questions if you have time at the end. Leave the longer essay problem until the end to make sure you get through the whole test. You will only see one question at a time. You can backtrack to previous questions answered, but there won’t be a lot of extra time. Finish the entire test first to make sure you answer everything; go back at the end if there is time. Be sure you tear up your one sheet of scratch paper so it is recorded–tear it up before the end if you are getting close to 120 minutes and will end up being cut off by running out of time.
For a certain trait, a heterozygous individual has a selecti…
For a certain trait, a heterozygous individual has a selective advantage over a homozygous dominant or homozygous recessive individual. This is called heterozygote advantage or _________(blank).
Who originally identified a highly condensed structure in th…
Who originally identified a highly condensed structure in the interphase of nuclei?
Mendel’s work with single-factor crosses: What resulted from…
Mendel’s work with single-factor crosses: What resulted from Mendel’s work with single-factor crosses?
Alleles that cause death in a certain temperature range are…
Alleles that cause death in a certain temperature range are examples of _________(blank).
Brown spotting of the teeth in humans is caused by a dominan…
Brown spotting of the teeth in humans is caused by a dominant X-linked gene. If a male with normal teeth marries a female with brown teeth who’s male parent had normal teeth, then _________(blank) of their female offspring will have brown teeth.
If a gene is located on the X chromosome, but not the Y, it…
If a gene is located on the X chromosome, but not the Y, it is said to be an example of _________(blank).