Dimovelis Foivos Prokopios - Excel (Product Activation Failed) F Sign in Share Comma 23 Conditional Formal as Bad Formatting Table" Normal 22 Good Normal Neutral Insert Delete Formal AutoSum Fill- Clear- Sort & Find & Filter Select Number Styles Cells Editing File Home Insert Page Layout Formulas Data Review View Tell me what you want to do... Cut Calibri 11 - A A Wrap Text General Paste Copy BIU- > - A = = = ** Merge & Center -% Formal Painter Clipboard Font Alignment A23 A B C E F G H K L 1 Althea Ltd. makes a standard product, which is budgeted to sell at $4.00 a unit, in a competetive market. It is made by taking a budgeted 0.4 kg of 2 material, budgeted to cost $2.40/kg and having it worked on by hand by an employee, paid a budgeted $8.00/hour, for a budgeted 6 minutes. 3 Monthly fixed overheads are budgeted at $4,800. The output for May was budgeted at 4,000 units. 4 5 The actual results for May were as follows: 6 7 Sales revenue (3,500 units) 13.820 (3.420) (2.690) (4.900) 2.810 8 Materials (1,425 kg) 9 Labor (345 hours) 10 Fixed overheads 11 Actual operating profit 12 13 No inventories of any description existed at the beginning or end of the month. 14 15 Required: 16 a. Prepare the flexible budget and compare it to the actual results. 17 b. Calculate all the variances in as much detail as the information provided allows. 18 c. Reconcile the budget variances. 19 d. Who is the responsible manager (position) for each of the variances above? 20 e. Discuss each variance, stating what you think could be the cause of the variance. 21 Ready Problem 1 Problem 2 Problem 3 Points 13 35 6 7 14 X M N + 140% 5:30 19C EL 11/5/2022