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Business, 26.06.2020 21:01 luhmimi17

Cicchetti 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 December: Cicchetti Corporation
Comparison of Actual Results to Planning Budget
For the Month Ended December 31
Actual Results Planning Budget Variances
Customers served 22,000 21,000
Revenue (3.40q) $75,200 $71,400 $3,800 F
Expenses:
Wages and salaries
($22,100 + $1.11q) 46,520 45,410 1,110 U
Supplies ($0.51q) 9,710 10,710 1,000 F
Insurance ($4,000) 4,000 4,000
Miscellaneous expense
($3,000 + $0.31q) 8,510 9,510 1,000 F
Total expense 68,740 69,630 890 F
Net operating
income $6,460 $1,770 $4,690 F
Required:
Prepare a report showing the company's revenue and spending variances for December. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance).)
Cicchetti Corporation
Revenue and Spending Variances
For the Month Ended December 31

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