Part 1. 1. Calculate the flexed and actual budget. Orchid Ltd. Flexed and Actual Budget For End of Month Income Statement line-item Revenue Variable Costs: Direct materials (8m @ E30/m) Direct labour (10 hours @ E25Jhr) Fixed overheads Total variable costs Profit Margin audgeted Amount per Unit 950 250 160 650 Flexed Budget 769,500 194,400 129,600 526,500 243,000 Actual Budget E760,ooo 192,000 128,000 520,000 E240,ooo