Question

A company's cost formula for its salaries and wages cost is $2,850 per month plus $317 per job. For the

Answer 1

The spending variance for salaries and wages cost in February would be closest to; $282 F.

What is the spending variance in February?

The spending variance as the name implies is the difference between the budgeted cost and actual cost paid for an item. It therefore follows from the definition above that for the month of February;

Spending variance = $7,640 - (2850 + (16×317))

Spending variance = $7,640 - (7922)

Spending variance is therefore; $282 F.

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