(4 X 0.5 = 2 Marks) Actual Si No Section - II Determine the type of variance in the following table: Type of Variance Item to classify Budget (Expecting) Favorable (F) Unfavorable (U) Profit 89,000 Revenue 56,000 Expenses 221,000 Costs 83,060 98,000 56,000 212,000 83,069 # 5 1 B (4 X 0.5 = 2 Marks) Answers (Section IT) (4 (3) (1 2 ! From below financial information of PENANG LTD June 2020. Calculate variances and review. (6 Marks) (2 Fixed selling Shipping Manufacturing Administrative Stock Revenue costs costs costs costs (Unit) (Sales) 25,000 3000 (for unit) 18 2500 8000 (for unit) 29 Actual Results 25000 2500 (for unit) 19 2000 9000 (for unit) 30 Budget PENANG LTD (Flexible Budget, 30, June 2020) Results Variances Expecting Actual Details Units Revenue (Sales) Variable costs Manufacturing costs Shipping costs Administrative costs Total of Variable costs Contribution Margin Fixed selling costs Operating Income ENG 40) . ()