Question: Complete the flexible budget and calculate flexible budget variances using the proforma. For each variance, indicate if it is U (unfavourable), F (favourable).

DATA FOR TASK B: 2018 BUDGETED DATA Taxation Bookkeeping Advisor Total Billable hours 10800 4400 4600 210.00 $ 1200 1320 180.00 $ 75.00 $ 5200 Professional labour hours 5720 11640 Charge out rate per billable hour $ Professional labour per worked hour $ 210.00 90.00 90.00 Variable overhead Note 1 145,000 610,000 Fixed overhead Note 2 2018 ACTUAL COSTS Taxation Bookkeeping Advisor Total Billable hours 5900 6400 210.00 586,000 11500 4200 4400 210.00 $ 386,000 $ 1400 1500 185.00 $ 112,500 $ Professional labour hours 12300 Charge out rate per billable hour $ Professional salary paid $ Note 1 Actual variable overhead paid Actual fixed overheads paid 162,000 Note 2 597,000 Note 1: Variable overhead varies with the billable hours Note 2: The partners have decided a fair allocation of fixed overheads is as a percentage of floor space Taxation Bookkeeping Advisory Total