Question 2: Alpha Ltd It makes a standard product, which is budgeted to sell at 21 a unit. It is made by taking a budgeted 1 kg of material, budgeted to cost 8 a kilogram, and having it worked on by hand by an employee, paid a budgeted 14 an hour, for a budgeted 9 minutes. Monthly fixed overheads are budgeted at 11,200. The output for March was budgeted at 8,000 units. The actual results for March were as follows: No inventories existed at the start or end of March. Required: Calculate the variances for March period as fully as you are able from the available information and use them to reconcile the budgeted and actual profit figures