Skoff Corporation is a shipping container refurbishment company that 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 March. - Fixed Element per Variable Element Actual Total
Month per Container Refurbished for March
Revenue $ 4,000 $ 130,000
Employee salaries $ 42,700 $ 1,000 $ 75,600
and wages
Refurbishing materials $ 600 $ 18,800
Other expenses $ 37,900 $ 38,400
When the company prepared its planning budget at the beginning of March, it assumed that 35 containers would have been refurbished. However, 32 containers were actually refurbished during March.
The activity variance for "Refurbishing materials" for March would have been closest to: Multiple Choice:
$1,800 F
$2,200 U
$1,800 U
$2,200 F
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Skoff Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Explain how changes in consumer tastes and consumer incomes affect demand
Answers (1)
Chapter 13 bankruptcy involves ... Question 5 options: A) eliminating the lowest interest debt that someone owes B) lumping debt together and making monthly payments over 5 years C) providing bailouts for people who cannot make payments on their
Answers (1)
As a real estate speculator, you are planning and able to buy a house that costs $200,000, borrowing the full amount with no money down with the goal of selling this same property in exactly one year.
Answers (1)
An accountant has debited an asset account for $1,200 and credited a liability account for $500. What can be done to complete the recording of the transaction?
Answers (1)
On June 1, Skysong, Inc. issues 2,700 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually.
Answers (1)
New Questions in Business
You have two investments. The value of Investment A at the end of April was $500, at the end of May was $600, and at the end of June was $400.
Answers (1)
2017 Sold $1,351,700 of merchandise (that had cost $981,800) on credit, terms n/30. Wrote off $21,500 of uncollectible accounts receivable. Received $670,400 cash in payment of accounts receivable.
Answers (1)
Which of the following types of value chain processes directly creates and delivers goods and services to customers? General management processes Postproduction processes Support processes Core processes
Answers (1)
Comanic Corp. has common stock of $5,400,000, retained earnings of $2,000,000, unrealized gains on trading securities of $100,000 and unrealized losses on available-for-sale securities of $200,000.
Answers (1)
Pirate Corporation acquired 85 percent of Ship Company's voting shares of stock in 20X7. During 20X8, Pirate purchased 50,000 circuit boards for $15 each and sold 28,000 of them to Ship for $20 each.
Answers (1)