Sales Price and Activity Variances (L.O.1): Gershwin. Rogers. Bach & Hammerstein operate an accounting firm with partners and staff members. Each billable hour of partner time has a budgeted price of $250 and budgeted variable cost of $130. Each billable hour of staff time has a budgeted price of $65 and budgeted variable cost of $35. This month, the partnership budget called for 8.500 billable partner-hours and 34,650 staff-hours. Actual results were as follows:

Required: Compute the sales price and activity variances for these data.

Transcribed Image Text:

Partner revenue: Staff revenue: $2,150.000 $2,225,000 9,000 hours 34,000 hours