Calculate the overall budgeted profit for August.
Calculate the actual profit earned in August.
Calculate the sales price variance from the figures given.
Calculate the sales volume variance using the standard profit margin per unit.
Calculate the labour rate variance from the data.
Calculate the labour efficiency variance from the hours information.
Calculate the fixed overhead expenditure variance for the period.
Calculate the fixed overhead volume variance for the data provided.
Prepare a statement that reconciles the budgeted profit at 4000 units level with the actual profit. You should begin the statement with the budgeted profit in (a).
Advise the directors on whether T Limited ought to move to the new supplier or stay with the present one. Justify your answer.