(Answered) Question - just bags produces leather purses just bags has

Accounting

Question - Just Bags produces leather purses. Just Bags has developed a static budget for the first quarter, which is based on 20,000 direct labour hours. During the quarter, the actual activity was 22,000 direct labour hours. Data for the first quarter are summarized as follows:

	Static budget (20,000 hours)	Actual costs (22,000 hours)
Direct materials	$ 80,000	$ 87,000
Direct labour	160,000	174,000
Rent	48,000	50,000
Total	$288,000	$311,000

What is the flexible budget variance for the first quarter?

$1,000 U

$1,000 F

$23,000 U

$23,000 F

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