Reference no: EM132700714
Question - Cute Cupcakes Limited budgeted to sell 15,350 cakes in July 20X8. The budget for the month was;
Budget July 20X8 ($)
Sales 23,025
Direct materials 2,303
Direct labour 1,842
Variable production overheads 768
Fixed production overheads 461
Variable non production overheads 1,075
Fixed non production overheads 307
Profit 16,269
The company actually sold 17,800 cakes and achieved the following results;
Actual Results July 20X8 ($)
Sales 23,140
Direct materials 3,560
Direct labour 1,424
Variable production overheads 1,246
Fixed production overheads 461
Variable non production overheads 1,068
Fixed non production overheads 307
Profit 15,074
Required -
(i) Prepare flexed budget and variance report for July 20X8.
(ii) Suggest possible reasons for each variance.
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