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What is the flexible budget variance for the first quarter

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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

Reference no: EM132115534

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