Complete the companys flexible budget performance report

Reference no: EM13599477

Tajiri Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of May:

Tajiri Corporation

Comparison of Planning Budget to Actual Results
For the Month Ended May 31
Planning
Budget Actual
Results Variances
Customers served 26,000 27,000
Revenue (3.40q) $ 88,400 $ 92,100 $ 3,700 F

Expenses:

Wages and salaries ($22,600 + $1.16q) 52,760 53,920 1,160 U
Supplies ($0.56q) 14,560 13,060 1,500 F
Insurance ($4,500) 4,500 4,500 0
Miscellaneous ($3,500 + $.36q) 12,860 11,360 1,500 F
Total expense 84,680 82,840 1,840 F
Net operating income $ 3,720 $ 9,260 $ 5,540 F

Required:
1.Complete the company's flexible budget performance report for May. Label each variance as favorable (F) or unfavorable (U). (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)

Tajiri Corporation

Flexible Budget Performance Report Part 1 & 2
For the Month Ended May 31
Planning Budget Activity Variances Flexible Budget Revenue and Spending Variances Actual Results
Customers served 26,000 27,000
Revenue $ 88,400 $ $ $ $ 92,100

Expenses:

Wages and salaries 52,760 53,920
Supplies 14,560 13,060
Insurance 4,500 4,500
Miscellaneous 12,860 11,360
Total expense 84,680 82,840
Net operating income $ 3,720 $ $ $ $ 9,260

Reference no: EM13599477

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