PLE83 BARNES The standard cost and price for one unit being as follows: 36 230 51 Direct material A - 8 Kilograms at $13 pcr Kg 104 Direct material B - 5 Kilograms at $6 per Kg 30 Direct wages - 6 hours at S6 per hour Fixed production overhead - 6 hours at $10 per hour 60 Total Standard Cost. Standard gross profit 50 Standard Selling price 280 The fixed production overhead included in the standard cost is based on an expected monthly output of 800 units. Overheads are absorbed using direct labour hours. During March this year the actual results were as follows: $ $ Sales 750 units @ $300 234,000 Direct Materials: A: 7,500 Kg 91,500 B: 3,500 Kg 20,300 Direct Wages 3,400 hours 27,880 Fixed production overhead 37.320 177.000 Gross Profit 57.000 Required: Reconcile budgeted profit with actual profit for March, calculating the following variances: Selling price, sales volume, material price, material usage, labour rate, labour efficiency, fixed overhead expenditure, fixed overhead capacity and fixed overhead efficiency