3. Prepare a detailed analysis of the variances from standard that will reconcile expected (standard) and actual profits for the most recent trading period. (Show all workings) Actual production -550 unite Mailings Review View Help EndNote X9 AaA E ENT 3 Search AaBbCcE AaBbCcl AaBbCcE AaBbCct AaBbCcD AaE 1 Normal 1 Body Text 1 List Para... 1 No Spac... 1 Table Pa... 1 Heading Fy Paragraph Product A (Currently attainable standards) Styles Unit Description Quantities and prices Direct materials 2.5 litres @ 4.00 per litre 10.00 Direct labour Fixed overhead 1.5 hours @ 8.00 per hour 12.00 10.00 per unit produced 10.00 Standard total unit cost: 32.00 Standard selling price: Standard unit gross profit: 50.00 18.00 Other information: The fixed overhead absorption rate is based on a consistent monthly production of 550 units. al trading results for December 2020 are: Jacksons Ltd Actual Trading Results (December 2020) E Sales (for 550 units sold) 28,050 Direct materials (for 1513 kilos consumed) 5,294 Direct labour (1,100 hours recorded) 6,600 Fixed overhead (550 units produced) 4,950 Cost of sales: (16,844) Gross profit: 11,206