Question 2: Beta Ltd It makes a standard product, which is budgeted to sell at 18 a unit. It is made by taking a budgeted 1 kg of material, budgeted to cost 9 a kilogram, and having it worked on by hand by an employee, paid a budgeted 16 an hour, for a budgeted 12 minutes. Monthly fixed overheads are budgeted at 12,400. The output for March was budgeted at 10,000 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