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Problem 1: CDF Company's static budget called for production volume of 20,000 units of product that were expected to be made using $12 of labor for each. The actual production volume was 21,000 units of product with an actual labor cost of $10 each. What is total labor cost in the flexible budget and what is the total volume variance for labor:
Group of answer choices
Option 1: $252,000 / $12,000 Favorable
Option 2: $210,000 / $42,000 Favorable
Option 3: $210,000 / $42,000 Unfavorable
Option 4: $252,000 / $12,000 Unfavorable
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