a) Describe fixed budget and flexible budget, highlighting the main difference between the two types of budget. 5 marks b) PQR budgets to produce 10 units of product A. Each unit of the product is budgeted to require 2 kg of a specific material. However, 12 units of the product were made, and 20 kg materials were used. Discuss the performance of the production manager using the budgeted material usage as a benchmark. Provide necessary calculations to support your discussion. c) Murray had the following budget and actual results during the period ending December 2020: 10 marks Sales units Sales revenue Direct material Direct labour Variable overhead Fixed overhead Required: Original budget actual 1,100 1,480 110,000 153,950 50,000 68,800 30,000 37,000 15,000 18,600 10,000 11,000 Prepare a flexed budget showing the total profit variance (if any) and provide a comprehensive discussion of the elements of the variance. 10 marks