Calculate the flexed and actual budget.

Fresh Juice Ltd manufactures fruit juice. One of its products, High Juice has the following standard costs per container:£Direct materials (2 litres @ £1.50/lt) 3.00Direct labour ( ½ hour @ £25/hr) 12.50Fixed overheads 4.0019.50Selling price 24.50Standard profit margin 5.00The monthly production and sales are planned to be 4,000 containers. The actual results for August were as follows:£Sales revenue 91,650Less Direct materials (11,408) (8,775 litres)Direct labour (46,250) (1,850 hours)Fixed overheads (16,500)Operating profit 17,492There was no opening or closing stocks. The company manufactured and sold 3,900 containers.Required:Calculate the flexed and actual budget.Calculate the following variances:Sales variances; volume and priceDirect material variances; usage and priceDirect labour variances; efficiency and rateFixed overhead variance; spending

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