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What the price variance for the week was

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Problem 1: For the first week of May, the Carlisle Club budgeted for 600 room nights at an average room rate of $65. Actual room nights for the week totaled 500 with an average room rate of $70. The price variance for the week was __________ and the volume variance for the week was __________.

Option 1: $500 favorable; $3,000 unfavorable

Option 2: $7,000 unfavorable; $500 favorable

Option 3: $3,000 favorable; $6,500 unfavorable

Option 4: $4,000 unfavorable; $4,000 favorable

Reference no: EM132735343

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