50.1K

Verified Solution

Link Copied!

Exercise 17-41 (Static) Sales Price and Activity Variances (LO 17-5) Oakman Accounting Partners is a small tax and accounting services firm. Each billable hour of partner time has a $960 budgeted price and $450 budgeted varlable cost. Each billable hour of staff time has a budgeted price of $250 and a budgeted variable cost of $150. For the most recent year, the partnership budget called for 7,500 billable partner-hours and 30,000 staff hours. Actual results were as follows: Required: o. Compute the sales price variance. b. Compute the total sales activity variance. c. Compute the total sales mix variance. d. Compute the total sales quantity variance. Note: For all requirements, do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for fovorable, or " U " for unfavorable. If there is no effect, do not select either option. Exercise 17-41 (Static) Sales Price and Activity Variances (LO 17-5) Oakman Accounting Partners is a small tax and accounting services firm. Each billable hour of partner time has a $960 budgeted price and $450 budgeted varlable cost. Each billable hour of staff time has a budgeted price of $250 and a budgeted variable cost of $150. For the most recent year, the partnership budget called for 7,500 billable partner-hours and 30,000 staff hours. Actual results were as follows: Required: o. Compute the sales price variance. b. Compute the total sales activity variance. c. Compute the total sales mix variance. d. Compute the total sales quantity variance. Note: For all requirements, do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for fovorable, or " U " for unfavorable. If there is no effect, do not select either option

Answer & Explanation Solved by verified expert

See Answer