Business, 06.04.2021 01:10, itsmariahu1927
EZ-Tax is a tax accounting practice with partners and staff members. Each billable hour of partner time has a $570 budgeted price and $280 budgeted variable cost. Each billable hour of staff time has a budgeted price of $140 and a budgeted variable cost of $90. For the most recent year, the partnership budget called for 8,800 billable partner-hours and 32,700 staff-hours. Actual results were as follows:
Partner revenue $ 4,584,000 8,200 hours
Staff revenue $ 4,505,000 32,000 hours
Required:
a. Compute the sales price variance. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
b. Compute the total sales activity variance. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
c. Compute the total sales mix variance. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
d. Compute the total sales quantity variance. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
Answers: 1
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