Sidney Company Ltd manufactures a single product. Details of the budgeted and actual results are as follows for the month of March 2023: Budget Actual results Production and sales (units) 2000 3000 $ $ Sales revenue 20,000 30,000 Direct materials 6,000 8,500 Direct labour 4,000 4,500 Maintenance 1,000 1,400 Depreciation 2,000 2,200 Rent and rates 1,500 1,600 Other costs 3,600 5,000 Total costs 18,100 23,200

Profit

1,900

6,800

i. Direct materials, direct labour and maintenance are variable ii. Rent and rates and depreciation are fixed costs iii. Other costs consist of fixed costs of $1,600 plus variable cost of $1 per unit made and sold

You are required to prepare a flexible budget showing the variance for each line item. (