One of Juice-World (Pty) Ltds divisions is a small and exclusive manufacturing plant where grape juice is still made using the traditional method. This process is labour intensive, starting with harvesting the grapes from the trees by hand and ending with bottling the filtered, exceptionally high-quality grape juice named Juicy. Juicy is the pride and glory of Juice-World (Pty) Ltd and as such, the performance of this product needs to be well monitored in order to ensure its sustainability. The following is an extract of the standards for March 2022 for the production and sale of 25 000 bottles of Juicy: Standard information per bottle: Selling price R169 per bottle Direct materials Grapes 3,5 kg grown until harvest ready at R12/kg Preservatives 2 kg purchased at R6 per kg Bottles and labels R9 per bottle Direct labour 1,5 hours paid at a rate of R38 per hour Variable manufacturing overheads R4 per direct labour Fixed manufacturing overheads R1,50 per bottle The accountant from the Juicy division has informed you that the division applies a standard absorption costing system. He has compiled the following actual profit statement based on the manufacturing and sales information for the 28 500 bottles that were manufactured and sold during March 2022. Rands Sales 4 617 000 Direct materials (1 818 300) Grapes: 3,2 kg grown @ R14 per kg 1 276 800 Preservatives: 2 kg purchased @ R5 per kg 285 000 Bottles and labels @ R9 per bottle 256 500 Direct labour (R42 per labour hour) (1 915 200) Variable manufacturing overheads (R3 per direct labour) (136 800) Fixed manufacturing overheads (32 000) Actual gross profit 714 700 REQUIRED: Assume that the budgeted gross profit (correctly calculated) for the Juicy division for March 2022 amounted to R1 037 500. Reconcile the budgeted gross profit to the actual profit. Clearly indicate all applicable variances as well as whether each variance is favourable or adverse