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The Analysis Club prepares a budget for a trip. They expect to use 40 gallons of gas and per gallon. In addition, they estimate buying
The Analysis Club prepares a budget for a trip. They expect to use 40 gallons of gas and per gallon. In addition, they estimate buying 6 meals at a cost of $300 per meal. They actually use 43 gallons and pay $2.95 per gallon and spend $1,900 for 5 meals. pay $3.15 From the foregoing information, compute the following variances. Indicate whether the variance is favorable (F) or unfavorable (U):_(Show your work!) a. Gasoline quantity variance. b. Gasoline price variance.! c. Meal quantity variance. d. Meal price variance
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