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Key Bank Held an Independence Day Party After All Bills for the Party Were Paid, the Total

Question 98

Multiple Choice

Key Bank held an Independence Day party.Key Bank expected attendance of 100 persons and prepared the following budget:  Hotel room rental $600 Food 400 Entertainment 800 Decorations 300 Totals $2,100\begin{array}{lr}\text { Hotel room rental } & \$ 600 \\\text { Food } & 400 \\\text { Entertainment } & 800 \\\text { Decorations } & 300 \\& \\\text { Totals } & \$ 2,100\end{array} After all bills for the party were paid, the total came to $2,315.Details are: $575 for hotel room rental; $640 for food; $750 for entertainment; and $350 for decorations.One hundred persons attended the party. What is the variance in food?


A) $70 unfavorable is the food variance.
B) $70 favorable is the food variance.
C) $25 favorable is the food variance.
D) $240 unfavorable is the food variance.

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