Q2: Compare the actual performance against the budgeted by calculating the variance and categorising it under favourable and unfavourable category. Also calculate the total cash payments for budgeted and actual amounts. (15 marks) January budget ($) January actual ($) Variance (F or UF) Cash receipts Receipts from account 270000 200000 receivable Cash payments Payments to supplier 120000 110000 Direct labour 18000 22000 Manufacturing overhead 6000 7500 Warehouse and distribution 5000 5400 expense Sales and marketing 5500 4900 expense Administrative expense 3000 4000 Total cash payments