Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,100 units, but its actual level of activity was 5,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting:
Actual results for May:
The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for May would be closest to:
Definitions:
Intrinsic Rewards
Satisfaction or pleasure derived from the activity itself rather than from external rewards or outcomes.
Unique Phases
Distinct periods within a process or lifecycle that are characterized by specific features or events.
Middle Adulthood
A phase in the human lifespan, typically from about 40 to 65 years of age, characterized by stability, maturity, and increased responsibility.
Family
A social unit consisting of parents and their children, considered as a group, whether dwelling together or not.
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