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Complete the companys flexible budget performance

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Reference no: EM13519262

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
45,000
46,000


Revenue (3.60q) $ 162,000 $ 165,300 $ 3,300 F

Expenses:






Wages and salaries ($24,500 + $1.35q)
85,250
86,600
1,350 U
Supplies ($0.75q)
33,750
31,950
1,800 F
Insurance ($6,400)
6,400
6,400
0
Miscellaneous ($5,400 + $.44q)
25,200
23,400
1,800 F

Total expense
150,600
148,350
2,250 F

Net operating income $ 11,400 $ 16,950 $ 5,550 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).

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
45,000





46,000
Revenue $ 162,000 $
$ $
$ 165,300

Expenses:








Wages and salaries
85,250





86,600
Supplies
33,750





31,950
Insurance
6,400





6,400
Miscellaneous
25,200





23,400

Total expense
150,600





148,350

Net operating income $ 11,400 $
$ $
$ 16,950

Reference no: EM13519262

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