Leven Clinic uses client-visits as its measure of activity. During September, the clinic budgeted for 3,000 client-visits, but its actual level of activity was 3,050 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting for September: Fixed element per month Variable element per client-visitRevenue - $31.00 Personnel expenses$23,900 $10.70Medical supplies 1,400 3.90Occupancy expenses 5,700 1.10Administrative expenses 5,100 0.10Total expenses$ 36,100 $ 15.80The administrative expenses in the planning budget for September would be closest to:
A. $5,405
B. $5,435
C. $5,400
D. $5,346
Answer: C
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If Oregon passed a statute that prohibited liquor stores from engaging in any kind of advertising, that statute would be
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A company has prepared the operating budget, the cash budget, and the budgeted income statement and is now preparing the budgeted balance sheet. The balance of Retained Earnings can be taken from the ________
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What is the dividend on an 8 percent preferred stock that currently sells for $45 and has a face value of $50 per share?
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Moncrief Corporation bases its budgets on machine-hours. The company's static planning budget for July appears below: Budgeted number of machine-hours 1,000 Supplies (@ $8.60 per machine-hour)$8,600Power (@ $8.80 per machine-hour) 8,800Salaries 11,300Equipment depreciation 9,900Total$38,600?Actual results for the month were: Actual number of machine-hours 1,200Supplies$10,290Power$10,860Salaries$11,690Equipment depreciation$9,990?The spending variance for equipment depreciation in the flexible budget performance report for the month should be:
A. $1,890 F B. $1,890 U C. $90 F D. $90 U