=+11-24 KK Flexible budget, working backwards OBJECTIVE 3 Aspects Ltd produces picture frames. A new accountant intern at Aspects Ltd has accidentally deleted the calculations on the company’s variance analysis calculations for the year ended 31 December 2015. The following table is what remains of the data:

Performance report, year ended 31 December 2015 Operating profit Actual results Flexible-budget variances Flexible budget Sales-volume variances Static budget Required 1 Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.)