Alpha Inc. produces wallets. Alpha has developed a static budget for the first quarter based...
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Alpha Inc. produces wallets. Alpha has developed a static budget for the first quarter based on 20,000 direct labor hours. During the quarter, the actual activity was 21,000 direct labor hours. Data for the first quarter are summarized as follows: Direct materials cost Direct labor cost Fixed cost Total Static budget (20,000 hours) $ 80,000 160,000 48,000 $288,000 Actual costs (21,000 hours) $ 87,000 174,000 50,000 $311,000 What is the flexible budget variance for the first quarter? O $23,000 0 O $23,000 F O $11,000 F O $11,000 U
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