USA Bank held a party. USA Bank expected attendance of 100 people and prepared the following budget:
Hotel room rental $600
Food 500
Entertainment 800
Decorations 300
Total Costs $2,200
One hundred people attended the party. The following costs were incurred:
Hotel room rental $575
Food 640
Entertainment 750
Decorations 350
Total Costs $2,315
What is the variance for the cost of food?
A) $115 Unfavorable
B) $140 Favorable
C) $115 Favorable
D) $140 Unfavorable
D
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