The following cost information of Sino Iban Bhd for the months ended 31st January and 28th Feb 2017 are as follows: Sales (units) January 40,000 RM 2,000,000 February 45,000 RM 2,250,000 Sales revenue Less Total Cost Direct materials Indirect materials Direct labour Indirect labour Rent Depreciation Inspection costs Electricity Supervisors' salaries 400,000 120,000 480,000 25,000 15,000 12,000 9,000 80,000 13,000 1,154,000 846,000 450,000 120,000 540,000 25,000 15,000 12,000 9,000 90,000 14,000 1,275,000 1,050,000 Profit/Loss (a) Explain THREE (3) differences between fixed and flexible budget. (3 marks) (b) Prepare a budget in the same format for the month ended 31st March 2016 assuming that the factory will manufacture and sell 50,000 units during the month. (7 marks)