Antonio plc makes Product X, the standard costs of which are:
......................................................£
Sales revenue ...........................31
Direct labour (1 hour) .............(11)
Direct materials (1 kg) ............(10)
Fixed overheads ........................(3)
Standard profit ............................7
The budgeted output for March was 1,000 units of Product X; the actual output was 1,100 units, which was sold for £34,950. There were no inventories at the start or end of March. 

The actual production costs were:

.....................................................................£
Direct labour (1,075 hours) ................12,210
Direct materials (1,170 kg) ..................11,630
Fixed overheads .....................................3,200

Required:
Calculate the variances for March as fully as you are able from the available information and use them to reconcile the budgeted and actual profit figures.