(a)[5]
Prepare the trading section of the budgeted income statement for March.
(b)[2]
State two reasons why a business prepares a flexed budget.
(c(i))[2]
Calculate the direct materials price variance for March.
(c(ii))[2]
Calculate the direct materials usage variance for March.
(c(iii))[1]
Calculate the fixed overhead expenditure variance for March.
(c(iv))[8]
Calculate the fixed overhead volume variance for March.
(d(i))[6]
Explain the possible reasons why the direct labour adverse variances may have arisen.
(d(ii))[2]
Explain the possible reasons why fixed overhead variances may arise.
(e)[2]
Explain how the adverse direct labour efficiency variance can be improved.