QUESTION 4 (30 MARKS) Below are given the budget and actual figures for one week's production for XYZ company BUDGET RM RM ACTUAL RM RM AFA3343 80 000 73,500 8.000 8.250 Sales 8.000 units at RM10 per unit Durect materials 8,000 kilos at RM per kilo Durect labour 1.000 homes at RMS per hour Vanable overheads 8.000 units at $0.50 per Sales 7,000 units ar RM10.50 per Direct materials 7.500 kilos at RM1.10 per kilo Direct labour 800 hours at RM4.50 per hour Variable overheads Fixed overheads 3.000 5.000 3.500 4,000 3.500 20.850 6.000 23.000 Lens closing stock Fixed overheads Profit (2.400) 57.000 Profit 18,4500 35,050 Notes: (1) The budget anticipated 10.000 units to be produced and sold. ) Actual production was 8,000 units of which 7,000 units were sold. REQUIRED: Calculate the following variancesi (a) sales price (2 marks) (b) sales volume sales margin) (2 marks) (c) material price (d) material usage (e) labour rate c) labour efficiency Pa 1013 (4 marks) (g) fixed overhead expenditure (2 marks) (h) fixed overhead volume (4 marks) (ii) Calculate the standard profit on the actual sales. (8 marks) Total: 30 marks