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Usimov [2.4K]
3 years ago
13

Wisseman Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbis

hed. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Container Refurbished Revenue $ 5,300 Employee salaries and wages $ 55,100 $ 900 Refurbishing materials $ 600 Other expenses $ 41,200 When the company prepared its planning budget at the beginning of September, it assumed that 28 containers would have been refurbished. However, 26 containers were actually refurbished during September. The activity variance for total expenses for September would have been closest to
$400 F
$400 U
$3,000 U
$3,000 F
Business
1 answer:
Serjik [45]3 years ago
7 0

Answer:

VARIANCE for Total Expenses = $3,000 F

Explanation:

PLANNING Budget:

Container Refurbished = 28

Employee salaries and wages = $55,100 + $900x(28) = $55,100 + $25,200 = $80,300

Refurbishing materials = $600x(28) = $16,800    

Other expenses = $41,200  

Total Expenses = $80,300 + $16,800 + $41,200 = $138,300

FLEXIBLE Budget:

Container Refurbished = 26

Employee salaries and wages = $55,100 + $900x(26) = $55,100 + $23,400 = $78,500

Refurbishing materials = $600x(26) = $15,600    

Other expenses = $41,200  

Total Expenses = $78,500 + $15,600 + $41,200 = $135,300

VARIANCE for Total Expenses:

VARIANCE = PLANNING Budget - FLEXIBLE Budget = $138,300 - $135,300 = $3,000 F

Since Planning Budget is greater than Flexible Budget, the change is favorable (F)

Hope this helps!

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