(a)[3]
Prepare the flexible budget statement for March and show the budgeted profit.
(b(i))[2]
Calculate the variance for material price.
(b(ii))[2]
Calculate the variance for material usage.
(b(iii))[2]
Calculate the variance for labour rate.
(b(iv))[2]
Calculate the variance for labour efficiency.
(c)[2]
Explain why the fixed overhead volume variance occurs.
(d)[5]
Prepare a statement that reconciles flexible budget profit with actual profit.
(e)[7]
Advise the directors whether W Limited should stop using the standard costing system, and justify your response.