Note That: Part (a) will be based on accuracy, correct approach and a concise, tidy and easy to follow presentation of the figures Part (b) will be based on practical and applied answers that demonstrate understanding of the relevant unit content (referring to relevant concepts) and are appropriate for the given scenario. References should be kept to an absolute minimum in this applied context. References to journal papers, in particular, are unnecessary and will detract from your answer. Prepare and interpret a variance analysis for Peters Barber Shop Pty Ltd; Peters Barber Shop Pty Ltd operates a barber shop with a single service offering: Men's cut and Beard Trim (MB). The price of this service is $40. The budget for September is shown below. Actual figures for September were: sales revenue of $30,400 for 760 units; supplies $2,000, variable utilities $1,520; labour costs $16,000; and fixed overhead $9,000. Sales (WCDs) 800 Sales Revenue $32,000 Supplies $1,600 Labour $16,000 Variable utilities $1,600 Fixed overheads $9,000 Profit/(loss) $3,800 Required: (a) prepare a variance analysis for September. The analysis should show the original budget, a flexed budget, actuals and relevant variances. (b) To assist the Managing Director of Peters Barber Shop Pty Ltd in controlling the business, briefly interpret and provide possible explanations for the variances. This part will be a maximum of