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Budget

sales/production 1700
selling price 14.5


quantity total quantity
direct material 0.8 m2 1360
direct labour 0.3 hours 510

fixed costs 2750

Actual

sales/production 1950
selling price 14


quantity total quantity
direct material 0.7 m2 1365
direct labour 0.4 hours 780

fixed costs 3000

, Income Statement
revenue
direct material
direct labour
price total cost fixed costs
9 12240 operating income
13 6630


static Budget variance
sales volume variance
flexible budget variance
selling price variance
direct material flexible budget variance
direct material price variance
direct material efficiency variance
price direct labour flexible budget variance
10 13650 direct labour price variance
12 9360 direct labour efficiency variance
fixed costs variance