Stenquist Corporation has provided the following data for January. 
Required:
a. Compute the budget variance for January. Show your work!
b. Compute the volume variance for January. Show your work!
Definitions:
Insolvent
Being insolvent means lacking the financial ability to pay debts when they are due, which can lead to bankruptcy or other legal financial proceedings.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, meant to harmonize the law of sales and other commercial transactions.
Buyers
Individuals or entities that purchase goods or services for personal use, resale, or production.
Nonconforming Goods
Nonconforming goods are products delivered under a contract of sale that fail to meet the quality, specification, or performance requirements outlined in the agreement.
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