The following is extracted from the standard unit cost card of Cazale Ltd for the quarter ended 31 March 2023: Selling price per unit Direct materials (2 kgs @ $1 per kg) Skilled labour 1 hour @ $8 per hour Variable overheads 1 hour @ $3 Fixed overheads Net profit per unit Budgeted sales $25 2 Sales (9,000 units) Direct materials (16,000kgs) Skilled labour (9,500 hours) Variable overheads Fixed overheads 3 2 10,000 units Variable overheads are determined by using the skilled labour hours while fixed overheads are absorbed on the budgeted sales units. For the quarter ended 31 March 2023, the following results were reviewed: 10 $ 234,000 ($ 26 per unit) 20,000 ($1.25 per unit) 71,250 ($ 7.5 per unit) 30,875 ($ 3.25 per unit) 22,000 Required: a) Calculate the actual and budgeted profit for the quarter ended 31 March 2023. Reconcile these profit figures by providing the appropriate variances. (16 marks) b) Illustrate some of the main causes that could have contributed in generating the variances under a) (4 marks)