Task 1 Super Silvery Ltd (Flexible budget) You are given the following information for Super Silvery Ltd. At first glance the company seems to have made 5000 profit more than budgeted. Your job is to provide a more thorough analysis of the results. Overheads are 40% variable and 60% fixed. All other income and expenditure is variable. a) Show the flexed budget b) Calculate the variances c) Review and interpret the analysis you have completed. What key points would you make to your colleagues?

\begin{tabular}{lrrrr} & \begin{tabular}{r} Budget \\ (4600 \\ units ) \end{tabular} & \begin{tabular}{r} Flexed budget \\ (5000 units ) \end{tabular} & \begin{tabular}{r} Actual \\ (5000 units ) \end{tabular} & Variance \\ & 73,600 & & 75,000 & \\ Materials & 18,400 & 22,500 & \\ Labour & 57,500 & 58,000 & \\ Overheads & 149,500 & 155,500 & \\ Total costs & 184,000 & 195,000 & \\ Revenue & 34,500 & 39,500 & \\ Profit & & & \end{tabular}