Question 6 You work as an Accounts Assistant for Onslow Limited, a manufacturing business. You have been given the original budget costs and the actual performance for last month for product 014. Actual output was 90 percent of budgeted output. (a) Complete the table given below to show a flexed budget and the resulting variances against the budget. Show the actual variance amount. For each cost, in the headed variance Note: Adverse variances must be denoted with a minus sign or bracket. O Entero where any figure is zero. Original Budget Fixed Budget Actual Variance Units sold 30,000 27,000 27,000 ,000 ,000 ,000 Sales revenue 1,800 1,650 Less Cost: Direct materials 550 500 Direct labour 340 297 Fixed overheads 650 645 260 208 Profit from operations (5 marks) (b) Explain all the possible reasons behind these variances. (5 marks) (Total 10 marks)