Please help me with a report listing of various factors responsible for the loss of 1 million as against the anticipated profit of 20 million.

Variance Analysis Josh and Company selling consumer durables prepared its budget for 2016-17 anticipating a profit of $ 20 millions. But the actual results for the year disclosed a net loss of $ 1 million. The managing director of the company wanted to prepare a statement explaining the reasons for the loss. Details of the budget with actual are given below: Particulars Amount Amount (millions) (millions) Sales 400 484 Material 200 253 Labour 80 115 Variable overheads 40 48 Fixed overheads 60 69 Profit / Loss 20 (1) During your investigation you found that there was an overall increase of 10% in cost of material. The labourers were given 15% increase in wages as a result of agreement with trade unions. The selling prices increase by 10%. Prepare a report listing the various facto$ responsible for the loss of 1 million as against the anticipated profit of 20 million