please show steps of computing all variances

Elbe's Fence Panels, Ltd. makes 2m x 2m cedar fence panels, i.e. 4 m2. The panels are made from strips of cedar wood 10 cm wide and 0.5 cm thick. The cedar strips are purchased as 50m long rolls from a local sawmill. The company budget output and sales of 5,000 panels per month. The standard cost card for the cellar fence panels and the results for the most recent month of trading are set out below. Standard cost card for the cedar fence panel Standard cost and uantit er anel Unit rice or rate Q yp p p revenue per panel Selling price 20 per panel 20.00 Cedar strips* 5 m2 2 per m2 10.00 Labor 0.4 hours 11 per hour 4.40 Total variable cost 14.40 Standard contribution 5.60 * Standard material wastage rate is 20%, therefore, 5m2 needed for each 4 m2 panel. Cedar fence panel Actual results Total quantity Unit price or rate Actual C09: and revenue Selling price 6,000 panels 24 per panel 144,000 Cedar strips 31,000 m2 1.90 per m2 58,900 Labor 2,250 hours 10 per hour 22,500 Total variable cost 81,400 Actual contribution 62,600 Required: Prepare a statement that reconciles the budget contr'bution per month with the contribution achieved in the most recent trading month. Compute all variances