5 (30 marks) Astrid Scheid Ltd manufactures kitchen cupboards. The company's budget for fixed costs per month is 7,500 and budgeted variable costs per cupboard are: Direct materials 15 sq metres at 4.50 per sq metre Direct labour 5 hours at 6 per hour 67.50 30.00 15.00 Variable overheads 5 hours at 3 per labour hour The company had budgeted to make and sell 1,000 cupboards per month at a selling price of 150 each. However, in June, the actual figures were as follows: Sales Direct materials 1,400 units 212,800 22,000 sq metre 121,000 Direct labour 6,800 hours 34,000 Variable overheads 6,800 hours 15,000 Fixed overheads 6,000 You are required to: a. b. Prepare the original and flexed budgets for June. (7 marks) Prepare a performance report reconciling the original budgeted profit to the actual profit showing all the variances arising. (14 marks) C. Write a report advising management on your findings and possible reasons why each variance arose. (9 marks) Total: 30 Marks