1. A construction company prepares financial budget at the beginning of the year as follows Job | Tender Price 400 000 600 000 3 500 000 | 200 000 Tender Period Jan - Dec Jan - Dec Jan - Dec Apr - Dec H.O Overheads 4000 30 000 15 000 10 000 Profit 15 000 20 000 30 000 12 000 The budget reviewed at the end of June revealed the following position: Job Value Of work Done Direct Cost to date 200 000 180 000 240 000 170 000 350 000 300 000 Contract did not materialise a) Prepare the budget for the year by assuming that the value of the work is spread uniformly throughout the period. b) Calculate the company sales, overhead and profit variances at the end of June c) Explain the status of project 1, 2 and 3 as the end of June. 1. A construction company prepares financial budget at the beginning of the year as follows Job | Tender Price 400 000 600 000 3 500 000 | 200 000 Tender Period Jan - Dec Jan - Dec Jan - Dec Apr - Dec H.O Overheads 4000 30 000 15 000 10 000 Profit 15 000 20 000 30 000 12 000 The budget reviewed at the end of June revealed the following position: Job Value Of work Done Direct Cost to date 200 000 180 000 240 000 170 000 350 000 300 000 Contract did not materialise a) Prepare the budget for the year by assuming that the value of the work is spread uniformly throughout the period. b) Calculate the company sales, overhead and profit variances at the end of June c) Explain the status of project 1, 2 and 3 as the end of June