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A3. Reflection A company, Reflection Ltd, makes mirrors and its managing directors have asked the management accountant to produce a budget for the following year. He has given the following assumptions from which the management accountant can calculate the budget for 2019, using actual information for 2018. 2018 Actuals 2019 assumptions 15,000 Volume : number of mirrors Selling price per mirror Materials Labour $50 $300,000 $200,000 17,500 Increase selling price by 10% 2% inflation 3% inflation 3% inflation Fixed costs Profit $120,000 $130,000 1. What should the sales budget be? A B $875,000 $825,000 $750,000 $962,500 2. What should the budget material cost be? A B $350,000 $357,000 $300,000 $300,600 D 3. What should the budget labour be? A B $206,000 $233,333 $240,333 $200,000 4. What should the revised fixed cost be? A $120,000 $123,600 $122,400 $140,000 D 5. What should the revised profit be? A B D $241,567 $130,000 $151,667 $ 171,667