1. Peterson, Inc., manufactures and sells three products: A, B, and C. In January, Peterson, Inc., budgeted sales of the following.

	Budgeted Volume	Budgeted Price
Product A	120,000	$40
Product B	150,000	15
Product C	20,000	20

At the end of the year, actual sales for Product A and Product B were $4,580,000 and $2,415,000 respectively. The actual price charged for each was equal to the budgeted price. Product C, however, had revenues of $500,000. While total revenue was higher than expected, the actual price of $10 represented a last-minute revision from budget to increase consumer acceptance of the product.

Required: Calculate the sales price variance and price volume variance for each of the three products based on the original budget.