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b. Calculus Company makes professional calculators. The profit plan and actual results for the previous year, 2020, are as follows: Profit Plan Actual Results Volume Pounds Volume Pounds Sales 20,000 300,000 23,000 299,000 Cost of Goods Sold Raw material (KG) 250 60,000 240 60,000 Raw material (L) 5,000 60,000 6.900 69,000 Labor (Hours) 2,000 44,000 2,760 55,200 Contribution Margin 136,000 114,800 Other costs Energy 10,000 7,500 Maintenance 15,000 19,000 Depreciation 12,500 15,000 Selling expenses 30,000 20,000 Advertising 20,000 4,800 Profit before interest and tax 48,500 48,500 The plant manager, Maher, has instructed the plant management accountant to prepare a detailed report to be sent to corporate headquarters comparing each component's actual result with the amounts set forth above in the annual budget. Required: Explain the difference between the expected and actual profit. Show your workings