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hellchicken hellchicken
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11 months ago

Hislop Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting:

Fixed element per monthVariable element per studentVariable element per course
Revenue$ 0$ 212$ 0
Faculty wages$ 0$ 0$ 2,100
Course supplies$ 0$ 37$ 45
Administrative expenses$ 28,800$ 6$ 26

In June, the school budgeted for 1,910 students and 111 courses. The school's income statement showing the actual results for the month appears below:

Hislop Tech
Income Statement
For the Month Ended June 30
Actual students1,810
Actual courses106
Revenue$ 387,740
Expenses:
Faculty wages218,200
Course supplies72,360
Administrative expenses41,716
Total expense332,276
Net operating income$ 55,464

Required:

Prepare a report showing the school's revenue and spending variances for June. Label each variance as favorable (F) or unfavorable (U).

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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Cow5215Cow5215
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hellchicken Author
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11 months ago
Thanks
africa143
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Yesterday
Thank you, thank you, thank you!
prime7105
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2 hours ago
this is exactly what I needed
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