Belfast Industries manufactures a single product, the standard cost of which is:

Direct materials - 6 kgs @ 4 kg

24.00

Direct labour - 2 hour @ 8 hour

16.00

Variable overhead - 2 hour @ 6 hr

12.00

Fixed overhead - 2 hour @ 10 hr

20.00

Total per unit

72.00

Other data relating to the standard cost:

• The fixed overhead rate is based on a budgeted output of 4,000 units per month.
• The standard selling price is 110 per unit.

Actual information for the latest month is as follows:

Production

4,000 units

Sales

4,000 units

Sales revenue

440,000

Direct materials:

Purchases 30,400 kgs

Used 22,000 kgs

127,680

Labour - 7,600 hours

63,080

Variable overheads

53,680

Fixed overheads

87,000

Other data relating to the actual results:

• There was no opening stock of raw material.
• All variances are written off to cost of goods sold in the period and stocks are valued at standard cost.

What is the material price variance?

What is the material usage variance?

What is the direct labour rate variance?

What is the direct labour efficiency variance?

What is the variable overhead expenditure variance?

What is the variable overhead efficiency variance?

What is the fixed overhead expenditure variance?

What is the fixed overhead volume variance?

What is the budgeted profit?

Enter your answer in the following format: 347,000 (NO CURRENCY SIGN BUT COMMA ALLOWED)