Sales Revenue Budget = 1,200,000; Sales Revenue Actual = 1,250,000. Total Expenditure for Budget = 945,000 Total

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Question:

Sales Revenue Budget = 1,200,000; Sales Revenue Actual = 1,250,000. Total Expenditure for Budget = 945,000 Total Expenditure Actual =956,000. calculate the budgeted profit, actual profit and the variances and state whether the variances is adverse or favorable.