0.1 9 Calculation of budget variances L03 The accountant for Sun Industries has taken unexpected leave and has not completed the end-of- period budget analysis. The following incomplete budget analysis was found on her desk. Static Flexible budget Variance budget Variance Actual $ $ $ Sales (small) 1 000 000 1 4?!) 000 Sales (large) 1 500 000 1 920 000 Total sales 2500000 3390000 variable costs Materials (small) 400 000 690 000 Labour (small) 200 000 330 000 Variable overhead (small) 50 000 T4 600 Materials (large) 350 000 51 0 000 Labour (large) 200 can 270 000 Variable overhead (large) 30 000 35 400 Contribution margin 1 270 000 1 430 000 Fixed costs Manufacturing overhead 1 20 000 1 80 000 Selling expenses 50 000 90 000 Admin. expenses 30 000 25 000 Net prot 1 070 000 1 135 000 CHAPTER 0 Flexible budgets, standard costs and variance analysis 301 Additional information: Per unit Large Small Selling price $1 0 000 $ 3 000 Variable costs Material 4 000 700 Labour 2 000 400 Variable overhead 500 60 Required (a) Complete the variance analysis report