Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. headquartered in eastern pennsylvania, petroleum s

Headquartered in Eastern Pennsylvania, Petroleum Service Company (PSC) was founded in 1924 and incorporated in...

50.1K

Verified Solution

Question

Accounting

Headquartered in Eastern Pennsylvania, Petroleum Service Company (PSC) was founded in 1924 and incorporated in 1930. PSC is an oilfield services company. PSC's accountant is reviewing the budget and notes the following fixed and variable cost estimates that it uses for budgeting purposes.
Fixed Element per Month
Variable Element per Month per Well Serviced Revenue $4,000
Employee salaries and wages $ 43,800 $ 1,000
Servicing materials $600
Other expenses $ 38,200
A total of 42 wells were actually serviced during October.
The revenue in the company's flexible budget for October would have been closest to:
A)$150,114
B)$168,000
C)$148,000
D)$170,400

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Compare the type of fibers that make up the dorsal root and ventral roots Describe the connective...

Medical Sciences
Q

The statute of Frauds states that certain types of contracts must be in writing. Does the coverage...

General Management
Q

b log 6216 3 O 3 729 O 216 36 O 6 216 0 36...

Basic Math
Q

Current Attempt in Progress Monty...

Accounting
Q

Analyze and compare setbacks/limitations of COSO Framework and the Fraud Triangle.

Accounting
Q

Wexxon Plc currently makes four products for sale on the local market. Details of the...

Accounting
Q

Is fair value too subjective of a measurement for complete reliance when compared with historical...

Accounting
Q

A company has revenue collections that are estimated to be as follows: 40% of sales...

Finance
Q

please quickly Moving to another question will save this response. Question 4...

Finance
Q

The firm's target capital structure is the mix of debt, preferred stock, and common equity...

Finance
Q

PS-17 PRICING A SPECIAL ORDER The Drosselmei er Corporation, which makesChristmas nutcrackers, has an annual...

Accounting
Q

Task 2: Wonder Worlds produces two types of watches: digital and analog. The company manufactures...

Accounting