ACCOUNTING
Multiple Choice
Hector’s Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable variance.
Flexible ------------Variances-------------
Budget Price Efficiency
Material A $20,000 $1,000U $1,200F
Material B 30,000 500F 800U
Material C 40,000 1,400U 1,000F
The actual amount spent for Material B was
a. $29,700
b. $30,800
c. $30,500
d. $30,300
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