Jeff Injection Moulds (JIM) Limited: (6+3+3 marks) JIM presents the following budget and actual performance for the year ended October 2021. Transaction details Master budget Actuals 1000 1200 Output (in units) 150,000 170,000 Sales value in dollars) 45,000 58,500 Raw materials cost 90,000 130,000 Raw materials consumption (in kilograms) 50,000 58,500 Labor cost 2000 2437.5 Labor hours utilisation (in hours) 25,000 24,000 Fixed costs You are required to Prepare a flexed budget Identify the sales volume variance in respect of the operating profits Identify the operating profit variance between flexed budget and actuals