. Q1: The following profit reconciliation statement summari zes t ance of one of SEWs products for March. Budgeted profit Sales volume variance Standard profit on actual sales Selling price variance 4 250 85DA 3 400 4000 (600) Adverse Favourable Cost variances: 1 000 Direct material price Direct material usage Direct labour rate Direct labour efficiency Variable overhead expenditure Variable overhead efficiency Fixed overhead expenditure Fixed overhead volume Actual profit 150 200 150 600 75 2 500 150 1175 36502475F 1875 dat The budget for the same period Sales volume Sales revenue Production volume Direct materials purchased Direct materials used Direct material cost 2 4 500 Direct labour hours contained the following 1 500 units 20 000 1 500 unit 750kg 750kg 1 125 Direct labour cost 24 500 Variable overhead costS 12 250 Fixed overhead cost 4 500 Additional information: stocks of raw materials and finished goods are valued at standard cost- during the month the actual number of units produced was 1550; the actual sales revenue was 12 000; the direct materials purchased were 1000kg Required: . (a) Calculate () the actual sales volume: -950 x-00 (ii) the actual quantity of materials used:, (ii) the actual direct material cost, 6xlooo (iv) the actual direct labour hours; 150-( (v) the actual direct labour cost, (vi) the actual variable overhead cost;-600 (vii) the actual fixed overhead cost. 45DD- 120