Oakman Accounting Partners is a small tax and accounting services firm. Each billable hour of partner time has a $960 budgeted price and $450 budgeted variable cost. Each billable hour of staff time has a budgeted price of $250 and a budgeted variable cost of $150. For the most recent year,

the partnership budget called for 7,500 billable partner-hours and 30,000 staff-hours. Actual results were as follows: 

Required

Compute the sales price and activity variances for these data. Also compute the mix and quantity variances.

Transcribed Image Text:

Partner revenue. Staff revenue... $7,675,000 $8,120,000 7,800 hours 33,000 hours