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NeX [460]
3 years ago
7

Dinham Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-d

ay. During March, the kennel budgeted for 3,700 tenant-days, but its actual level of activity was 3,740 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for March: Data used in budgeting: Fixed element per month Variable element per tenant-day Revenue - $ 34.60 Wages and salaries $ 2,600 $ 7.60 Food and supplies 1,600 14.10 Facility expenses 8,100 3.10 Administrative expenses 6,600 0.10 Total expenses $ 18,900 $ 24.90 Actual results for March: Revenue $ 125,356 Wages and salaries $ 28,560 Food and supplies $ 54,875 Facility expenses $ 19,150 Administrative expenses $ 7,096 The spending variance for food and supplies in March would be closest to:
Business
1 answer:
kakasveta [241]3 years ago
4 0

Answer:

$541 Unfavorable

Explanation:

Flexible budget for food and supplies = Fixed expenses + (Actual activity * Variable cost per tenant day)

Flexible budget for food and supplies = $1,600 + (3,740 * $14.10)

Flexible budget for food and supplies = $1,600 + $52,734

Flexible budget for food and supplies = $54,334

Spending variance = Actual results - Flexible budget

Spending variance = $54,875 - $54,334

Spending variance = $541 Unfavorable

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Answer:

Assets : Cash, Accounts receivable, Equipment

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Cash , Account receivables (from debtors who owe money to us) , Equipments are all beneficial ownerships and hence are Assets.

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Salaries and wages payable, Accounts payable (from creditors to whom we owe money), Notes payable are all financial obligations to be fulfilled by business - so are liabilities of business.

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What should recreational boaters keep in mind if traveling in waters where there are anglers and hunters?
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Answer:

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