17.12 Referring to the information given in exercise 17.11, at the beginning of April 20X4 Skippy reviews the past three months. Bookings on the first coach trip to Austria were not as good as planned: he sold only 42 places on the coach. However, the second trip was very popular with sales of 50 places. The hotel charged Skippy based upon the actual, not the budgeted number of people. Coach and insurance costs remained the same.

Actual office costs were higher than budgeted; in January Skippy paid £230, in February £350 and in March £270. The phone bill of £455 was paid in March.
Prepare a profit and loss account for the three months ending 31 March 20X4 showing columns for actual results, budgeted results and the variation between the two. Also prepare an actual balance sheet at 31 March 20X4 showing an extra column for the budgeted figures.
Has Skippy's business performed better or worse than budget, overall?