The fixed budget and actual results for G Ltd for the latest period are as follows: Production

The fixed budget and actual results for G Ltd for the latest period are as follows:

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Production and sales Budget 5,000 units Actual 5,800 units f f Direct material 15,000 18,200 Direct labour 17,500 21,100 Variable overhead 10,000 11,000 Fixed overhead 14,000 15,000 Total cost 56,500 65,300 Sales revenue 80,000 93,400 Profit 23,500 28,100 Required Prepare a flexible budget control report for the period, identifying the cost and revenue variances.