Benji Ltd is a company that manufactures furniture. The company launched a new range of tables and chair sets in January 2021 and budget and actual results for the year were as follows: Number of Tables Number of Chairs Sales Tables Chairs Materials used (see below) Labour costs Variable Overheads Fixed Overheads Operating profit Material costs: Wood per table Wood per 4 chairs Varnish/Paint per set of 1 table and 4 chairs Material per 4 chairs Budget 6,000 24,000 600,000 960,000 756,000 240,000 60,000 240,000 264,000 1 cubic metre at 60 per cubic metre 0.4 cubic metres at 60 per cubic metre 250cc at 8 per litre 1 square metre at 40 per square metre Actual 8,000 48,000 720,000 2,400,000 1,206,000 360,000 84,000 250,000 1,220,000 Actual usage 8,800 cubic metres 60.00 24-00 54,000 cubic metres 2.00 2000 litres 40.00 126-00 12,000 square metres Actual cost () 484,000 198,000 20,000 504,000 1,206.000 The management team realized very early in January 2021 that the market required 6 chairs per table and not 4. The material used for the seats for the chairs is imported and the exchange rate has fluctuated significantly in 2021. Required Critically appraise, with appropriate calculations, the performance of Benji Ltd with respect to the new range of tables and chairs. (30 Marks)