Given the following information: Budget 20,000 Actual 22,000 Units produced Materials (kg) Direct Labour (Hours) 80.000 96.000 343.000 290,000 $800,000 $3,850,000 $4,557,800 Material Costs ? Direct Labour Costs $3,500,000 $4,400,000 $1,600,000 $1,6 10,000 Variable Overhead Costs Fixed Overhead Costs Other Information Overhead is Allocated on Direct Labour Hours During the year 99,000 kg of materials were Beginning Inventory: none Ending Inventory: 3,000 kg purchased for $800,000 Required: Prepare a flexible budget Calculate the following variances A. Material Rate B. Material Efficiency C. Labour Price D. Labour Efficiency E. Variable Overhead Rate F. Variable Overhead Efficiency G. Fixed Overhead Rate H. Fixed Overhead Production Volume