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Dance Mania had budgeted for 4,000 hours of dance instruction for the month of October. Its standard rate for instruction is $8 per hour. Actual
Dance Mania had budgeted for 4,000 hours of dance instruction for the month of October. Its standard rate for instruction is $8 per hour. Actual revenues for the month of October were $31,000, and actual hours of instruction totaled 3,600.
- Calculate the sales price variance [(standard price actual price) x actual quantity]. (2 marks)
- Calculate the sales quantity variance [(standard quantity actual quantity) x standard price]. (2 marks)
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