Proctar plc makes stoves. Details regarding unit standard costs and revenue are as follows:

€

Sales price	600
Direct labour (10 hrs at €15 per hr)	150
Direct materials (60kg)	180
Fixed cost per unit	70
Standard profit	200

The budgeted output for March was 400 stoves; the actual output was 350 stoves, which was sold for €227,500. Total budgeted fixed overheads were €28,000. There were no inventories at the start or end of March.

The actual production costs were:	€
Direct labour (4000 hrs)	63,000
Direct materials (18,000 kgs)	72,000
Fixed Overheads Required	30,000

Calculate the variances for March from the available information and use them to reconcile the budgeted and actual profit figures