Yellow Incorporated prepared the following budget at the beginning of the financial year:

Budget production and sales in units $10000$

R

Sales $900000$

Direct materials $300000$

Direct labour $200000$

Variable overheads $100000$

Fixed overheads $200000$

Budget profit $100000$

Actual results for the

year:

Actual production and sales in units $11000$

R

Sales $957000$

Direct materials $341000$

Direct labour $209000$

Variable overheads $122000$

Fixed overheads $190000$

Actual profit $95000$

Required:

$4\mathrm{.}1$ Prepare the statement of budget versus actual performance. $(18)$

$4\mathrm{.}2$ Explain the financial results calculated in $4\mathrm{.}1(2)$