1, Complete the table showing the variance and state whether the variance is adverse or favorable.

2 , in the second table, complete the cost budget below, by completing A-I.

Section B Budgeting (18 marks in total) (i) Complete the table showing the variance and state whether the variance is Adverse or favourable (5 marks) Page 3 of 4 Budget Actual Variance Sales Revenue 48,000 45,000 Fixed Costs 6,000 4,000 Labour Costs 2,000 2,200 Material Cost 8,000 9,000 500 500 Advertising costs (ii) Complete the cost budget below, by completing A-I Item Budgeted () 100,000 58,500 Sales Material Wages Electricity E Profit F = 24,000 B G Sales and Cost Budget Actual () 140,000 7,000 A 5,000 52,700 C Variance () Adverse or favourable ? (9marks) 1000 H Adverse or Favourable Favourable Adverse D I Favourable Page 4 of 4