Murray had the following budget and actual results during the period ending December 2020: Sales units...
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Murray had the following budget and actual results during the period ending December 2020: Sales units Sales revenue Direct material Direct labour Variable overhead Fixed overhead Original budget 1,100 £110,000 50,000 30,000 15,000 10,000 actual 1,480 £153,950 68,800 37,000 18,600 11,000 Required: Prepare a flexed budget showing the total profit variance (if any) and provide a comprehensive discussion of the elements of the variance. Murray had the following budget and actual results during the period ending December 2020: Sales units Sales revenue Direct material Direct labour Variable overhead Fixed overhead Original budget 1,100 £110,000 50,000 30,000 15,000 10,000 actual 1,480 £153,950 68,800 37,000 18,600 11,000 Required: Prepare a flexed budget showing the total profit variance (if any) and provide a comprehensive discussion of the elements of the variance.
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