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Dermody Snow Removal's cost formula for its vehicle operating cost is $3,010 per month plus $331 per snow-day. For the month of December, the company planned for activity of 13 snow-days, but the actual level of activity was 15 snow-days. The actual vehicle operating cost for the month was $7,585. The spending variance for vehicle operating cost in December would be closest to:
Balance Sheet Accounts
Categories in a balance sheet including assets, liabilities, and shareholders' equity, representing a company's financial position.
Real Accounts
Accounts that are not closed at the end of the accounting period, representing ongoing financial balances in assets, liabilities, and equity.
Temporary Accounts
Accounts that track revenues, expenses, and withdrawals for a specific accounting period and are closed at period end.
Miscellaneous Expense
Minor or incidental expenses that do not fit into standard categories and are not material to the business's overall financial results.
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