Asked by Damir Hollis on May 13, 2024
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Hislop 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 June, the school budgeted for 1,910 students and 111 courses.The school's income statement showing the actual results for the month appears below: 
Required:
Prepare a report showing the school's revenue and spending variances for June.Label each variance as favorable (F)or unfavorable (U).
Revenue Variances
Differences between actual revenue and budgeted or forecasted revenue figures.
Cost Drivers
Factors that cause a change in the cost of an activity; they are the structural determinants of the cost of an operation, influencing the expenses of certain business activities.
Vocational School
An educational institution designed to provide vocational education, or technical skills required to perform the tasks of a particular and specific job.
- Evaluate budgetary differences, pinpointing advantageous and disadvantageous variances.
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Learning Objectives
- Evaluate budgetary differences, pinpointing advantageous and disadvantageous variances.
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