Difabio 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 1,070 students and 90 courses. The actual activity for the month was 1,370 students and 95 courses.Required:Prepare the school's flexible budget for the actual level of activity in June.
Definitions:
Government Agencies
Organizations at the federal, state, or local level that implement and manage specific government policies and programs.
Federal Funds Rate
The interest rate at which depository institutions lend reserve balances to other depository institutions overnight, a key economic policy tool used by the Federal Reserve.
Economic Growth
An increase in the production of goods and services in an economy over a period, reflecting a rise in national income and standard of living.
Tax Rate
A tax rate is the percentage at which an individual or corporation is taxed.
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