Liscomb Tech is a for-profit vocational school.The school bases its budgets on two measures of activity (i.e. , cost drivers), namely student and course.The school uses the following data in its budgeting: In October, the school budgeted for 1, 520 students and 113 courses.The school's income statement showing the actual results for the month appears below: Required:
Prepare a report showing the school's activity variances for October.Label each variance as favorable (F)or unfavorable (U).

Question

Liscomb Tech is a for-profit vocational school.The school bases its budgets on two measures of activity (i.e. , cost drivers), namely student and course.The school uses the following data in its budgeting:  In October, the school budgeted for 1, 520 students and 113 courses.The school's income statement showing the actual results for the month appears below:  Required:
Prepare a report showing the school's activity variances for October.Label each variance as favorable (F)or unfavorable (U).

Quizplus · Accepted Answer

The Answer of Liscomb Tech is a for-profit vocational school.The school bases its budgets on two measures of activity (i.e. , cost drivers), namely student and course.The school uses the following data in its budgeting:  In October, the school budgeted for 1, 520 students and 113 courses.The school's income statement showing the actual results for the month appears below:  Required:
Prepare a report showing the school's activity variances for October.Label each variance as favorable (F)or unfavorable (U).

Liscomb Tech Is a For-Profit Vocational School