Question 2 The following are the budgeted and actual profit and loss account (income statement for B Ltd Actual Budget 1000 units 900 units Output (Production and sales) OMR OMR Sales revenue 92000 Raw materials Labour 100,000 (40,000) (20,000) (20,000) 20,000 (36,900) (17,500) (20,700) 16,900 Fixed overheads Operating profit Required: Prepare a budgetary control statement that enables identification of volume and price or cost variances