Britelite Manufacturers produces a product which has the following standard costs: Material A: 3 kilograms at R20 per kilogram Material B: 5 kilograms at R15 per kilogram Direct labour: 8 hours at R10 per hour Fixed overheads: R120 000 Budgeted production: 9 000 units Actual results for February 2019 were as follows: Material A: 32 500 kg at R22 per kilogram Material B: 54 000 kg at R14 per kilogram Direct labour: 88 000 hours at R12 per hour Fixed overheads: R132 000 Production: 10 000 units REQUIRED: Calculate the following: 1.1.1 Material mix variance (6) 1.1.2 Material yield variance (6) 1.1.3 Fixed manufacturing overheads volume capacity variance (3) 1.1.4 Fixed manufacturing overheads volume efficiency variance (2) 1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3) 1.2.2 Labour mix variance (7) 1.2.3 Labour yield variance (3) Indicate whether each variance is favourable or unfavourable. INFORMATION: Standard labour costs for Electro Manufacturers to manufacture 2 000 units: 400 hours at R70 per hour 200 hours at R35 per hour Actual labour costs incurred to produce 1 900 units: 290 hours at R R65 per hour 170 hours at R32 per hour Idle time represents 10% of the recorded labour hours 2 QUESTION 2 (30 MARKS) REQUIRED Use the information provided below to prepare the following for March 2020: 2.1. Flexible budget for two different activity levels i.e. 18 000 and 25 000 units (9) 2.2. Performance report (11) 2.3. Comment on the following variances: 2.3.1. Sales (1) 2.3.2. Direct Material (2) 2.3.3. Fixed overheads (2) INFORMATION Widget Ltd manufactures a single product. It originally planned to produce and sell 12 000 units during the year but the actual activity level was 14 000 units. The budgeted and actual income and cost for the year are as follows: Original Budget Actual results Volume 12 000 units 14 000 units R R Sales 1 440 000 1 820 000 Cost of sales (1 238 400) (1 620 000) Direct Materials 600 000 784 000 Direct labour 420 000 546 000 Variable overheads 144 000 126 000 Fixed overheads 74 400 164 000 Gross Profit 201 600 200 000 2.4 Mancosa students make cash payments for student fees on the 1st floor in Durban. Discuss how effective segregation of duties can be implemented relating to this cash if there are three staff employed in the finance