Passkwik Co is a company that supplies learning materials for students who want to study from home. It offers two types of learning material packages called the Basic and the Prizewinner. The Basic package includes a workbook and revision cards. The Prizewinner package includes a workbook, revision cards, mock exams and email access to a tutor. Exams are set by an independent exam board and are sat at the end of each quarter. Quarter 1 Budgeted data for Quarter 1 was: The actual results for Quarter 1 were: Quarter 2 In Quarter 2 the following variances occurred: Several changes were announced by the exam board in Quarter 2 which would take effect in Quarter 3. The exam board stated that it would be changing the syllabus from Quarter 3. Students seemed to think that the new syllabus would make the exams harder. Quarter 3 Budgeted data for Quarter 3 was the same as budgeted data for Quarter 1 Calculate the sales price variance for the Basic package for Quarter 1. $7,020 Adverse $7,020 Favourable $6,600 Adverse \$6,600 Favourable