Red plc operates a chain of fast-food restaurants. The company uses a standard marginal costing system to monitor the costs incurred in its outlets. The standard cost of one of its most popular meals is as follows: The standard selling price of each meal is 2.12. In one of its restaurants, which has budgeted sales and production activity level of 52,500 meals, the actual number of meals that were produced and sold during March 2019 was 56,000 . The actual cost data was as follows: The actual revenue from the sale of the meals was 145,600. Requirement (a) Calculate: (i) The total budgeted contribution for March 2019; and (ii) The total actual contribution for March 2019. 3 Marks (b) Present a statement that reconciles the budgeted and actual contribution for March 2019. Show all variances to the nearest and in as much detail as possible. Total 2017 Marks