Prepare a flexible budget report for 2023 based on the information below. Provide full calculation steps for
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Prepare a flexible budget report for 2023 based on the information below. Provide full calculation steps for full mark. (14 marks)
| Cost | Budget at 4,000 Units | Actual Amounts at 5,000 Units |
| Direct materials | $185,000 | $188,000 |
| Direct labour | 226,000 | 250,000 |
| Indirect labour | 22,000 | 25,000 |
| Indirect materials | 14,000 | 16,000 |
| Cost | Budget at 4,000 units | Variance | Flexible Budget | Variance | Actual at 5,000 units |
| Direct materials | $185,000 | 231250 | $188,000 | ||
| Direct labour | 226,000 | 2825000 | 250,000 | ||
| Indirect labour | 22,000 | 22000 | 25,000 | ||
| Indirect materials | 14,000 | 14000 | 16,000 | ||
| total |
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