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(a) Prepare a revised profit statement: W1: Budgeted revenue per contract = Flexed revised budget = Planning variance = Operational variance = W2: Royalty fee

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(a) Prepare a revised profit statement: W1: Budgeted revenue per contract = Flexed revised budget = Planning variance = Operational variance = W2: Royalty fee as a percentage of revenue = Flexed revised budget = Planning variance = Operational variance =

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