Rusedski Ltd is a tennis racket manufacturing company that operates a standard costing system. The standard manufacturing variable costs per unit of output are as follows: Materials 14kg at 9.50 per kg Direct labour 5 hours at 15.00 per hour Budgeted production and sales for the month of July was 1,600 units at a selling price of 225 per unit. During the month of July 1,800 units of production were completed and sold at a price of 215 per unit. 25,740kg of material was used in production at a total cost of 240,669. 8,280 labour hours were required to complete production at a total cost of 128,340. Due to Wimbledon demand for the product grew and the industry planned sales of 16,000 units increased to 17,400 units in July. Required: a) Construct a table showing the original budget, the flexed budget, actuals, and initial variances for the month of July. (4 marks) b) Calculate the material price and usage variances. c) Calculate the labour rate and efficiency variances. (6 marks) (4 marks) d) Calculate the market size and market share variances. (6 marks) e) Comments on the variances you have calculated and state reasons why they may have occurred. Discuss actions that could be taken the following month to improve performance. (5 marks) Total 25 marks