Jasper Ltd produced its budgets for November 2017 as follows: Units Material Wages Depreciation Power Salaries Transport Materials Wages Depreciation 10 000 $ 30 000 25 000 8 000 17 000 17 000 16 000 Power Salaries Transport 11 000 $ 33 000 27 500 8 000 18 000 17 000 17500 The actual units produced during November were 11,600 units. Required: a) Prepare a budget for the actual activity level for November 2017. b) If the actual costs for November 2017 were: 12 000 $ 36 000 30 000 8000 19 000 17 000 19 000 $ 35 000 33 000 8 000 17 800 17 200 17 600 (10 marks) Prepare a statement showing the variances from the budget for the month. (10 marks) (c) Briefly distinguish between fixed and flexible budgets. (5 marks)