Calculate:

- Sales Volume Variance

- Sales Pricd Variance

- Direct Material Usuage Variance

- Direct Material Price Variance

- Direct labor Efficiency Variance

- Direct Labor Rate variance

- Fixed Overhead Spending Variance

- actual operating profit variance

A company in the UK produces and sells one standard product only. The company prepares budgets at the beginning of each month, and its budget for the month of July was prepared by applying the following standards (assumptions): Budgeted Numbers Sales Price (s per unit) 12 Sales Volume (no. of units) 4000 Material Volume (kg per unit) Material Price (s per kg) Labour Hours (hours per unit) 0.25 Labour Hour Rates per hour Fixed Overheads 5000 At the end of this month, the business has produced and sold 4,100 units, and these are were actual results: Actual Outcomes Sales Revenue (for 4100 units) 49,500 Material (6,000 kg) (24,200) Labour (1040 hrs) (10,500) Fixed Overheads (4.800) Operating Profit 10.000 You will need to deduce the budgeted profit for the month and reconcile it with the actual profit in order to answer the following questions