Wafflio sells waffle shoes in Jakarta and can sell them 120 pairs in February 2021 meanwhile their planning only 100 pairs with the selling price $150. They have their own formula for their revenue and expense calculation:

a. Wage and salaries: $2,000 + $ 5q

b. Material: $10q

c. Office rent: $1,500

d. Supplies: $800

e. Insurance: $200

f. Depreciation on equipment: $500

The actual:

Units 120

Sales $17,500

Expenses Wage and salaries $2,700

Material $800

Office rent $1,500

supplies $1,000

Insurance $300

Depreciation on equipment $500

Required: Prepare the activity variance and also revenue and spending variance and explain each favorable and unfavorable meaning that occurs!