Wavecrest plc sells windsurfing boards through a website. It has discovered that it will probably only sell 4 500 boards compared to 5 000 in the original budget. The original selling price was @ 125 per board. The total actual sales revenue will now be 675 000; all the budgeted cost items, both fixed and variable, will actually exceed the original budget by 8% however, despite the lower sales volume. The original budget is shown below: Budget Materials 270 000 Variable Labour 145 000 Deliveries - fixed 80 000 Rent - fixed 15 000 Fixed Salaries 30 000 General Administration - fixed 12 000 Maintenance - fixed 27 000 Required: a) Prepared a comparison table that details the actual performance, original budget, revised flexed budget and variance analysis (U/F) based upon the above information. (12 marks) b) Comment upon your results produced in a) above and identify relevant actions that should be taken in response to the variance analysis. (6 marks) c) Draft a memorandum to the directors of Wavecrest that explains and discusses the main behavioural issues that might impact the budget setting process. Identify relevant management controls that could be introduced to reduce any negative impacts these