Novo Construction has a static budget based on production and sales of 24 000 units. Sales revenue is expected to be $96 000, variable costs $36 000, and fixed costs $32 000. Actual production and sales were 30 000 units with a profit of $50 000. Required (a) Calculate the amount of profit in the flexible budget. (b) Calculate the overall variance between the flexible budget and actual results and indicate whether it is favourable or unfavourable.